Skopos Labs Inc. Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Skopos Labs Inc. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,151 shares of the real estate investment trust’s stock, valued at approximately $307,000.

Other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Simon Property Group in the third quarter valued at about $33,000. BOK Financial Private Wealth Inc. acquired a new position in Simon Property Group in the fourth quarter valued at about $34,000. Bruce G. Allen Investments LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $41,000. Highlander Capital Management LLC raised its stake in Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $46,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Truist Financial boosted their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Scotiabank boosted their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI boosted 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. Five 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.40.

Simon Property Group Trading Up 2.2 %

Shares of Simon Property Group stock traded up $3.22 on Friday, hitting $147.88. The stock had a trading volume of 1,410,906 shares, compared to its average volume of 1,358,638. The stock has a 50 day moving average of $147.40 and a 200 day moving average of $142.02. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market capitalization of $48.20 billion, a P/E ratio of 18.84, a PEG ratio of 8.58 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $2.74 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts expect that Simon Property Group, Inc. will post 12.87 earnings per share for the current fiscal year.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $2.00 dividend. The ex-dividend date is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.41%. Simon Property Group’s dividend payout ratio is presently 99.36%.

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.