Anchor Investment Management LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 325 shares of the real estate investment trust’s stock, valued at approximately $46,000.
Other large investors have also recently bought and sold shares of the company. Arlington Trust Co LLC bought a new stake in Simon Property Group in the third quarter valued at approximately $25,000. DT Investment Partners LLC raised its stake in Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 200 shares during the period. Selway Asset Management bought a new stake in Simon Property Group in the third quarter valued at approximately $26,000. Financial Freedom LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $27,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Simon Property Group during the second quarter worth approximately $27,000. 84.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on SPG shares. Piper Sandler increased their target price on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group increased their target price on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Evercore ISI increased their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their target price on Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.33.
View Our Latest Analysis on Simon Property Group
Simon Property Group Trading Up 1.4 %
Shares of NYSE:SPG opened at $154.10 on Wednesday. The company has a market capitalization of $50.22 billion, a P/E ratio of 22.08, a P/E/G ratio of 7.99 and a beta of 1.65. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $154.21. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The business’s 50 day simple moving average is $146.36 and its 200 day simple moving average is $129.95.
Simon Property Group (NYSE:SPG – Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.
Simon Property Group announced that its Board of Directors has authorized a share buyback plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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.
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