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

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 61.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 554 shares of the real estate investment trust’s stock after purchasing an additional 210 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Simon Property Group were worth $79,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC grew its stake in shares of Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management acquired a new position in shares of Simon Property Group in the third quarter valued at about $26,000. Financial Freedom LLC bought a new stake in Simon Property Group during the fourth quarter worth about $27,000. Finally, Tyler Stone Wealth Management bought a new stake in Simon Property Group during the second quarter worth about $27,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Simon Property Group Stock Performance

NYSE SPG opened at $140.44 on Friday. The business’s 50 day moving average price is $149.36 and its 200-day moving average price is $135.48. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The company 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.

Simon Property Group (NYSE:SPG) last issued its earnings results 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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. Simon Property Group’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.15 earnings per share. Sell-side analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group declared that its Board of Directors has initiated a stock buyback plan 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 purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. 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 dividend yield of 5.55%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is 111.75%.

About Simon Property Group

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.