Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,446 shares of the real estate investment trust’s stock after acquiring an additional 2,436 shares during the period. Great Valley Advisor Group Inc.’s holdings in Simon Property Group were worth $3,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New York Life Investment Management LLC raised its holdings in Simon Property Group by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 50,819 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 185 shares during the period. Hexagon Capital Partners LLC grew its holdings in Simon Property Group by 40.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 665 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 193 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after purchasing an additional 469,855 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Simon Property Group during the fourth quarter valued at $368,000. Finally, Van ECK Associates Corp boosted its stake in shares of Simon Property Group by 14.4% during the fourth quarter. Van ECK Associates Corp now owns 134,346 shares of the real estate investment trust’s stock valued at $19,163,000 after acquiring an additional 16,897 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $140.26 on Thursday. The business’s 50-day moving average price is $148.57 and its two-hundred day moving average price is $137.74. 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 firm has a market cap of $45.71 billion, a PE ratio of 20.08, a P/E/G ratio of 7.37 and a beta of 1.68. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82.

Simon Property Group (NYSE:SPG) last released 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 firm had revenue of $1.53 billion during 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 business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.15 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group announced that its board has authorized a stock repurchase program on Thursday, February 8th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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 paid a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s payout ratio is 111.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Evercore ISI raised their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Truist Financial lifted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group 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.