Simon Property Group, Inc. (NYSE:SPG) Stake Increased by Fiduciary Group LLC

Fiduciary Group LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,884 shares of the real estate investment trust’s stock after acquiring an additional 2,239 shares during the quarter. Fiduciary Group LLC’s holdings in Simon Property Group were worth $3,835,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SPG. Arlington Trust Co LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at about $25,000. DT Investment Partners LLC increased its holdings in 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 buying an additional 200 shares during the last quarter. Selway Asset Management acquired a new stake in Simon Property Group during the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Simon Property Group during the 3rd quarter worth approximately $33,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

SPG stock traded down $0.37 during trading on Friday, reaching $142.36. 1,026,159 shares of the company’s stock were exchanged, compared to its average volume of 1,112,382. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The firm has a market cap of $46.40 billion, a PE ratio of 20.40, a P/E/G ratio of 7.47 and a beta of 1.65. The company’s fifty day moving average price is $149.04 and its 200-day moving average price is $137.02. 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 posted its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a dividend yield of 5.48%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Simon Property Group announced that its board has authorized a share repurchase program 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 programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SPG shares. Evercore ISI upped their price target 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. Truist Financial lifted their target price 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. Morgan Stanley upped their target price on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Moderate Buy” and a consensus target price of $140.22.

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.