881 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Stelac Advisory Services LLC

Stelac Advisory Services LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 881 shares of the real estate investment trust’s stock, valued at approximately $126,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Simon Property Group by 13,226.4% during the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after acquiring an additional 913,678 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after purchasing an additional 667,034 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Simon Property Group in the third quarter worth $69,423,000. Duff & Phelps Investment Management Co. increased its stake in shares of Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after buying an additional 469,855 shares during the period. Finally, American Century Companies Inc. raised its holdings in Simon Property Group by 65.3% during the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after buying an additional 337,430 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.1 %

Simon Property Group stock traded up $0.13 during mid-day trading on Friday, reaching $148.79. The stock had a trading volume of 1,258,426 shares, compared to its average volume of 1,398,238. The company has a market capitalization of $48.50 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 7.70 and a beta of 1.68. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The company has a 50-day moving average price of $147.78 and a two-hundred day moving average price of $140.91.

Simon Property Group (NYSE:SPGGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $2.74 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Simon Property Group, Inc. will post 12.87 EPS for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a stock buyback program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is presently 99.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPG shares. Truist Financial boosted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Scotiabank lifted their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday. 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. Evercore ISI lifted their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.40.

Check Out Our Latest Stock Analysis on Simon Property Group

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.

Recommended Stories

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.