Banco Santander S.A. Buys New Shares in Simon Property Group, Inc. (NYSE:SPG)

Banco Santander S.A. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,336 shares of the real estate investment trust’s stock, valued at approximately $12,629,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. WR Wealth Planners LLC boosted its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the 3rd quarter worth about $30,000. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the 4th quarter worth about $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth about $41,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 2.0 %

NYSE:SPG opened at $170.97 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The firm has a 50-day moving average price of $178.03 and a two-hundred day moving average price of $174.40.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. Simon Property Group’s payout ratio is currently 115.70%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $178.44.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.