Sigma Planning Corp Trims Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Sigma Planning Corp lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,016 shares of the real estate investment trust’s stock after selling 1,839 shares during the period. Sigma Planning Corp’s holdings in Simon Property Group were worth $430,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPG. CWM LLC increased its stake in shares of Simon Property Group by 7.8% in the 4th quarter. CWM LLC now owns 6,914 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 502 shares in the last quarter. Vicus Capital purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $263,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Simon Property Group by 1.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,759 shares of the real estate investment trust’s stock valued at $12,518,000 after purchasing an additional 1,380 shares in the last quarter. Signaturefd LLC increased its stake in shares of Simon Property Group by 3.7% in the 4th quarter. Signaturefd LLC now owns 4,947 shares of the real estate investment trust’s stock valued at $706,000 after purchasing an additional 175 shares in the last quarter. Finally, Carmel Capital Partners LLC increased its stake in shares of Simon Property Group by 3.5% in the 4th quarter. Carmel Capital Partners LLC now owns 6,719 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Morgan Stanley lifted their price target 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. Truist Financial lifted their price target 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. Evercore ISI boosted their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Trading Down 0.3 %

Shares of Simon Property Group stock opened at $142.36 on Friday. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The stock has a market cap of $46.40 billion, a P/E ratio of 20.40, a P/E/G ratio of 7.49 and a beta of 1.65. The stock’s 50 day simple moving average is $149.04 and its 200-day simple moving average is $136.81. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company posted $3.15 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its board has approved a share repurchase plan 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 repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $1.95 dividend. The ex-dividend date was Thursday, March 7th. 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 yield of 5.48%. Simon Property Group’s dividend payout ratio is currently 111.75%.

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.