Gateway Investment Advisers LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,391 shares of the real estate investment trust’s stock after selling 77 shares during the period. Gateway Investment Advisers LLC’s holdings in Simon Property Group were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $25,000. DT Investment Partners LLC lifted its holdings in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Selway Asset Management bought a new position in shares of Simon Property Group in the 3rd quarter valued at about $26,000. Financial Freedom LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $27,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. Institutional investors own 84.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on SPG. Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Piper Sandler increased their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Truist Financial increased their price target on shares of Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.33.
Check Out Our Latest Stock Report on SPG
Simon Property Group Stock Performance
Shares of NYSE:SPG opened at $155.47 on Thursday. The firm’s 50 day simple moving average is $146.36 and its 200-day simple moving average is $129.95. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $155.81. The firm has a market cap of $50.67 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 8.10 and a beta of 1.65.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $3.15 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.04 EPS for the current year.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is currently 111.75%.
Simon Property Group announced that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
About Simon Property Group
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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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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