Simon Property Group, Inc. (NYSE:SPG) Stock Position Lessened by Edgar Lomax Co. VA

Edgar Lomax Co. VA reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,306 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Edgar Lomax Co. VA’s holdings in Simon Property Group were worth $10,456,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in shares of Simon Property Group by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 77 shares in the last quarter. Cascade Investment Group Inc. raised its position in Simon Property Group by 0.5% in the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after acquiring an additional 80 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in Simon Property Group by 16.6% in the 4th 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 during the last quarter. Schechter Investment Advisors LLC boosted its position in shares of Simon Property Group by 2.4% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 81 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its stake in shares of Simon Property Group by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Truist Financial upped their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Scotiabank lifted their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI raised their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Five 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.40.

Get Our Latest Research Report on SPG

Simon Property Group Stock Up 1.1 %

Shares of Simon Property Group stock traded up $1.60 during midday trading on Tuesday, reaching $147.97. 921,163 shares of the company’s stock traded hands, compared to its average volume of 1,470,344. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 7.71 and a beta of 1.68. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The company’s 50 day simple moving average is $147.71 and its 200 day simple moving average is $141.54. 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 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). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.74 EPS. Equities analysts expect that Simon Property Group, Inc. will post 12.87 earnings per share for the current fiscal year.

Simon Property Group announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock 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 announced 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 is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend is Friday, June 7th. This represents a $8.00 annualized dividend and a yield of 5.41%. Simon Property Group’s dividend payout ratio is presently 99.36%.

About Simon Property Group

(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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