Diversified Trust Co acquired a new position in Simon Property Group, Inc. (NYSE:SPG – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,699 shares of the real estate investment trust’s stock, valued at approximately $670,000.
A number of other large investors also recently bought and sold shares of SPG. Arlington Trust Co LLC bought a new stake in shares of Simon Property Group during the third quarter valued at approximately $25,000. DT Investment Partners LLC lifted its stake 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 worth $25,000 after purchasing an additional 200 shares during the period. Selway Asset Management purchased a new position in shares of Simon Property Group in the third quarter worth approximately $26,000. Financial Freedom LLC purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $27,000. Finally, Tyler Stone Wealth Management bought a new position in Simon Property Group in the second quarter worth approximately $27,000. 84.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SPG has been the topic of a number of recent research reports. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Morgan Stanley increased their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Truist Financial upped their price target on shares of Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group raised their price objective on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Piper Sandler raised their price target on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.33.
Check Out Our Latest Stock Report on SPG
Simon Property Group Stock Performance
Shares of Simon Property Group stock opened at $154.10 on Wednesday. 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 stock’s fifty day moving average price is $146.36 and its 200-day moving average price is $129.95. The firm has a market cap 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 12 month low of $100.17 and a 12 month high of $154.21.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its earnings results 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). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business posted $3.15 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.04 earnings per share for the current fiscal year.
Simon Property Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $1.95 dividend. The ex-dividend date is Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.06%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.
Simon Property Group announced that its Board of Directors has approved a share repurchase program 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 buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are 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.
Further Reading
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