SVB Wealth LLC Has $760,000 Position in Simon Property Group, Inc. (NYSE:SPG)

SVB Wealth LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,331 shares of the real estate investment trust’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Freedom LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $27,000. DT Investment Partners LLC grew its position in 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 worth $25,000 after buying an additional 200 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Simon Property Group during the third quarter worth about $25,000. BOK Financial Private Wealth Inc. acquired a new stake in Simon Property Group during the fourth quarter worth about $34,000. Finally, Tyler Stone Wealth Management acquired a new stake in Simon Property Group during the second quarter worth about $27,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.0 %

NYSE SPG opened at $140.44 on Friday. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The stock’s 50 day moving average is $149.36 and its two-hundred day moving average is $135.48. 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 company has a market capitalization of $45.77 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 7.37 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last posted 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 net margin of 42.30% and a return on equity of 70.97%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $3.15 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group declared that its board has initiated a share repurchase plan on Thursday, February 8th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.55%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is 111.75%.

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 research report on Thursday. Morgan Stanley lifted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Evercore ISI lifted their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Finally, Truist Financial lifted their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Moderate Buy” and an average target price of $140.22.

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.