SVB Wealth LLC Acquires 1,224 Shares of Simon Property Group, Inc. (NYSE:SPG)

SVB Wealth LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 29.8% during the fourth quarter, Holdings Channel reports. The firm owned 5,331 shares of the real estate investment trust’s stock after buying an additional 1,224 shares during the quarter. SVB Wealth LLC’s holdings in Simon Property Group were worth $760,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. Cowa LLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $107,000. Norges Bank bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $807,887,000. International Assets Investment Management LLC raised its holdings in shares of Simon Property Group by 13,226.4% in the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares during the period. Geode Capital Management LLC raised its holdings in shares of Simon Property Group by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust’s stock valued at $910,337,000 after purchasing an additional 765,146 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Simon Property Group by 527.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 804,952 shares of the real estate investment trust’s stock valued at $105,899,000 after purchasing an additional 676,627 shares during the period. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SPG shares. Morgan Stanley upped their target price 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. Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Evercore ISI increased 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 report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Stock Up 0.0 %

Simon Property Group stock opened at $140.44 on Friday. The company’s 50-day moving average price is $149.36 and its two-hundred day moving average price is $135.48. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82. The stock has a market cap of $45.77 billion, a P/E ratio of 20.12, a P/E/G ratio of 7.37 and a beta of 1.65. 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 (NYSE:SPG) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company earned $3.15 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group declared that its Board of Directors has initiated a share buyback program on Thursday, February 8th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date 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 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.