Stevens Capital Management LP Has $1.77 Million Stake in Simon Property Group, Inc. $SPG

Stevens Capital Management LP lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,549 shares of the real estate investment trust’s stock after selling 12,075 shares during the period. Stevens Capital Management LP’s holdings in Simon Property Group were worth $1,768,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Simon Property Group by 15.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock valued at $12,521,000 after acquiring an additional 8,965 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Simon Property Group in the third quarter worth about $3,598,000. National Pension Service raised its holdings in Simon Property Group by 3.2% during the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after purchasing an additional 33,758 shares during the last quarter. Aew Capital Management L P raised its holdings in Simon Property Group by 90.9% during the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after purchasing an additional 252,510 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in Simon Property Group by 1.7% during the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after purchasing an additional 4,177 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.4%

Shares of NYSE:SPG opened at $202.34 on Wednesday. The company has a 50 day moving average price of $195.20 and a two-hundred day moving average price of $188.79. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $65.75 billion, a PE ratio of 14.27, a PEG ratio of 6.63 and a beta of 1.33. Simon Property Group, Inc. has a 52 week low of $155.44 and a 52 week high of $208.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $3.68 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. Analysts forecast that Simon Property Group, Inc. will post 13.19 earnings per share for the current year.

Simon Property Group declared that its board has initiated a share repurchase plan on Thursday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPG. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research note on Friday, January 16th. Scotiabank boosted their price target on shares of Simon Property Group from $189.00 to $192.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Evercore increased their price objective on shares of Simon Property Group from $188.00 to $198.00 and gave the company an “in-line” rating in a report on Tuesday, February 3rd. Truist Financial lifted their target price on shares of Simon Property Group from $181.00 to $196.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. Finally, Citigroup upped their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.14.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.