Benjamin F. Edwards & Company Inc. Acquires 88 Shares of Simon Property Group, Inc. (NYSE:SPG)

Benjamin F. Edwards & Company Inc. increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,741 shares of the real estate investment trust’s stock after acquiring an additional 88 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Simon Property Group were worth $676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DT Investment Partners LLC lifted 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 purchasing an additional 200 shares during the last quarter. Selway Asset Management purchased a new position in Simon Property Group during the third quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Simon Property Group in the third quarter worth $33,000. BOK Financial Private Wealth Inc. bought a new stake in Simon Property Group in the fourth quarter worth $34,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Simon Property Group Trading Up 2.4 %

Shares of SPG stock opened at $147.95 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. Simon Property Group, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82. The stock has a market capitalization of $48.22 billion, a P/E ratio of 21.20, a P/E/G ratio of 7.50 and a beta of 1.68. The firm’s 50 day moving average is $148.08 and its 200 day moving average is $138.97.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.74 earnings per share. Research analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $8.00 annualized dividend and a dividend yield of 5.41%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.