Compagnie Lombard Odier SCmA lowered its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 58.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,400 shares of the real estate investment trust’s stock after selling 1,994 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Simon Property Group were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. AMI Investment Management Inc. boosted its position in shares of Simon Property Group by 1.2% in the first quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock valued at $2,312,000 after acquiring an additional 204 shares during the period. Raymond James Trust N.A. boosted its holdings in Simon Property Group by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 371 shares during the period. Blair William & Co. IL grew its position in shares of Simon Property Group by 56.8% during the 1st quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after purchasing an additional 20,022 shares in the last quarter. Prudential PLC bought a new position in shares of Simon Property Group in the first quarter worth $642,000. Finally, Dakota Wealth Management purchased a new stake in shares of Simon Property Group in the first quarter worth $390,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Simon Property Group Stock Down 2.5 %
SPG opened at $151.86 on Monday. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. 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 business’s 50-day moving average price is $146.91 and its 200-day moving average price is $130.78. The company has a market cap of $49.49 billion, a P/E ratio of 21.76, a P/E/G ratio of 7.98 and a beta of 1.65.
Simon Property Group (NYSE:SPG – Get Free Report) last announced its quarterly 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). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $3.15 earnings per share. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Simon Property Group, Inc. will post 12.04 EPS for the current year.
Simon Property Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.
Simon Property Group announced that its board has authorized a share buyback program on Thursday, February 8th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Piper Sandler upped their target price on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Evercore ISI lifted their target price on shares of 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. The Goldman Sachs Group raised their price objective on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Truist Financial increased their target price on Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Four equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.33.
Get Our Latest Analysis on SPG
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.
Further Reading
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