Vanguard Personalized Indexing Management LLC Reduces Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 25.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,937 shares of the real estate investment trust’s stock after selling 8,422 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Simon Property Group were worth $3,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cascade Investment Group Inc. raised its position in Simon Property Group by 0.5% during the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after purchasing an additional 80 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Simon Property Group by 16.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 80 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of Simon Property Group by 2.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 81 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of Simon Property Group by 1.9% in the third quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 85 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in Simon Property Group by 0.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust’s stock worth $1,369,000 after buying an additional 86 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial raised their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Morgan Stanley upped their price objective 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, Evercore ISI upped their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.22.

Get Our Latest Stock Analysis on SPG

Simon Property Group Price Performance

Shares of SPG traded up $0.71 during mid-day trading on Wednesday, hitting $150.25. 888,827 shares of the company were exchanged, compared to its average volume of 1,478,431. The stock has a market cap of $48.97 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 7.61 and a beta of 1.68. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The company has a 50 day moving average of $147.89 and a 200-day moving average of $140.48. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19.

Simon Property Group (NYSE:SPGGet Free Report) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $2.74 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Simon Property Group, Inc. will post 12.87 EPS for the current fiscal year.

Simon Property Group announced that its board has approved a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 99.36%.

Simon Property Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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