Parkside Financial Bank & Trust Grows Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Parkside Financial Bank & Trust lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 62.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,202 shares of the real estate investment trust’s stock after purchasing an additional 460 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Simon Property Group were worth $171,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SPG. Arlington Trust Co LLC purchased a new position in Simon Property Group in the third quarter worth $25,000. DT Investment Partners LLC raised its position 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 worth $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management purchased a new position in Simon Property Group in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Simon Property Group in the third quarter worth $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.7 %

Simon Property Group stock opened at $142.82 on Thursday. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 7.54 and a beta of 1.65. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The stock’s fifty day moving average is $149.30 and its two-hundred day moving average is $136.51.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 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 net margin of 42.30% and a return on equity of 70.97%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.15 EPS. Analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.46%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Truist Financial increased 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. Evercore ISI upped their target price on 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, Morgan Stanley upped their target price 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.