Aew Capital Management L P Has $71.88 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Aew Capital Management L P lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 503,925 shares of the real estate investment trust’s stock after selling 9,350 shares during the period. Simon Property Group comprises 2.6% of Aew Capital Management L P’s investment portfolio, making the stock its 16th largest holding. Aew Capital Management L P owned about 0.15% of Simon Property Group worth $71,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $25,000. DT Investment Partners LLC increased its holdings in shares of Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Selway Asset Management acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $33,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in Simon Property Group in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG traded down $0.37 during mid-day trading on Friday, hitting $142.36. The company’s stock had a trading volume of 859,442 shares, compared to its average volume of 1,478,664. The stock’s 50-day moving average is $149.04 and its two-hundred day moving average is $136.81. 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 firm has a market capitalization of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.49 and a beta of 1.65. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82.

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

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.48%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group declared that its Board of Directors has approved 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 purchase 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI upped their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Morgan Stanley upped 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. Finally, Truist Financial upped their target price on Simon Property Group from $139.00 to $147.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

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.