Simon Property Group, Inc. (NYSE:SPG) Stock Position Raised by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 61.0% in the fourth quarter, Holdings Channel reports. The firm owned 554 shares of the real estate investment trust’s stock after buying an additional 210 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Simon Property Group were worth $79,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of Simon Property Group by 16.6% during the 3rd quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after purchasing an additional 51,380 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Simon Property Group by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after acquiring an additional 6,703 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock valued at $4,565,000 after acquiring an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at approximately $238,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Simon Property Group by 9.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after acquiring an additional 7,250 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPG. Morgan Stanley raised their price objective 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. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Finally, Truist Financial raised their price objective 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Stock Performance

SPG opened at $140.44 on Friday. The firm has a market capitalization of $45.77 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65. The stock’s 50 day moving average price is $149.36 and its two-hundred day moving average price is $135.48. The company has a quick ratio of 1.77, a current 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.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $3.15 EPS. Simon Property Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities 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 of Directors has authorized a stock buyback program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

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.