Sloy Dahl & Holst LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Sloy Dahl & Holst LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,680 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Several other large investors have also made changes to their positions in SPG. Cowa LLC purchased a new stake in shares of Simon Property Group in the 1st quarter valued at $107,000. Norges Bank purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $807,887,000. International Assets Investment Management LLC boosted its holdings in shares of Simon Property Group by 13,226.4% in the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after acquiring an additional 913,678 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Simon Property Group by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust’s stock valued at $910,337,000 after acquiring an additional 765,146 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Simon Property Group by 527.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 804,952 shares of the real estate investment trust’s stock valued at $105,899,000 after acquiring an additional 676,627 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPG. The Goldman Sachs Group increased their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Morgan Stanley increased their price target 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 increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Evercore ISI increased their price target 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. Finally, Piper Sandler increased their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Price Performance

NYSE:SPG traded down $2.04 during trading hours on Wednesday, reaching $140.35. 1,301,665 shares of the company were exchanged, compared to its average volume of 1,259,808. 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 stock’s 50-day moving average is $149.61 and its 200-day moving average is $135.15. The firm has a market cap of $45.74 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a twelve month low of $100.17 and a twelve month high of $157.82.

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 analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion for 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 was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 earnings per share. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.56%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is 111.75%.

Simon Property Group announced that its Board of Directors has approved a share buyback plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Simon Property Group 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.