Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Marino Stram & Associates LLC

Marino Stram & Associates LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,202 shares of the real estate investment trust’s stock after purchasing an additional 170 shares during the period. Marino Stram & Associates LLC’s holdings in Simon Property Group were worth $885,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arlington Trust Co LLC acquired a new position in Simon Property Group during the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC boosted its holdings in shares of Simon Property Group by 714.3% during the third 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 period. Selway Asset Management acquired a new stake in shares of Simon Property Group in the 3rd quarter worth about $26,000. Financial Freedom LLC acquired a new stake in shares of Simon Property Group in the 4th quarter worth about $27,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Simon Property Group in the 2nd quarter worth about $27,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG traded down $1.39 during midday trading on Tuesday, reaching $141.00. The company’s stock had a trading volume of 526,695 shares, compared to its average volume of 1,507,504. The company has a market cap of $45.95 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 7.60 and a beta of 1.65. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. The company has a 50 day moving average price of $149.67 and a 200 day moving average price of $134.93.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. Simon Property Group’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.15 EPS. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group announced that its Board of Directors has approved a stock buyback plan on Thursday, February 8th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $1.95 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.53%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Analysts Set New Price Targets

SPG has been the subject of a number of analyst reports. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Truist Financial boosted their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Piper Sandler lifted their target price on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group increased their price target 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. Finally, Morgan Stanley raised their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

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.