Natixis Advisors LLC Has $26.99 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Natixis Advisors LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,799 shares of the real estate investment trust’s stock after buying an additional 8,490 shares during the quarter. Natixis Advisors LLC’s holdings in Simon Property Group were worth $26,990,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $368,000. Natixis Advisors L.P. grew its position in Simon Property Group by 6.4% in the 4th quarter. Natixis Advisors L.P. now owns 164,928 shares of the real estate investment trust’s stock valued at $23,524,000 after purchasing an additional 9,942 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Simon Property Group by 1.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,741 shares of the real estate investment trust’s stock valued at $676,000 after purchasing an additional 88 shares in the last quarter. National Bank of Canada FI increased its stake in Simon Property Group by 126.7% during the 4th quarter. National Bank of Canada FI now owns 207,027 shares of the real estate investment trust’s stock valued at $29,611,000 after purchasing an additional 115,696 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in Simon Property Group by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 34,691 shares of the real estate investment trust’s stock worth $4,948,000 after buying an additional 1,421 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Evercore ISI increased their target price on shares of Simon Property Group from $157.00 to $160.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $160.94.

Simon Property Group Stock Up 1.1 %

Simon Property Group stock opened at $167.35 on Tuesday. The firm has a 50 day moving average price of $154.66 and a 200-day moving average price of $150.74. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $169.18. The company has a market capitalization of $54.56 billion, a P/E ratio of 21.32, a P/E/G ratio of 9.17 and a beta of 1.75. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 earnings per share. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 101.91%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.