Parkside Financial Bank & Trust Boosts Position in Simon Property Group, Inc. (NYSE:SPG)

Parkside Financial Bank & Trust grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 62.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,202 shares of the real estate investment trust’s stock after purchasing an additional 460 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Simon Property Group were worth $171,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SPG. CWM LLC increased its holdings in shares of Simon Property Group by 33.5% during the 3rd quarter. CWM LLC now owns 6,412 shares of the real estate investment trust’s stock valued at $693,000 after purchasing an additional 1,608 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Simon Property Group during the 3rd quarter valued at approximately $44,000. Caprock Group LLC increased its holdings in shares of Simon Property Group by 6.2% during the 3rd quarter. Caprock Group LLC now owns 3,195 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 187 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Simon Property Group by 5.1% during the 3rd quarter. Proficio Capital Partners LLC now owns 2,660 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 128 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Simon Property Group by 47.7% during the 3rd quarter. Czech National Bank now owns 57,186 shares of the real estate investment trust’s stock valued at $6,178,000 after purchasing an additional 18,478 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.7 %

NYSE SPG opened at $142.82 on Thursday. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. The business’s fifty day simple moving average is $149.30 and its 200-day simple moving average is $136.51. The firm has a market cap of $46.55 billion, a PE ratio of 20.46, a P/E/G ratio of 7.54 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $3.15 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group declared that its board has approved a stock repurchase program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is currently 111.75%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPG shares. Truist Financial lifted their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley lifted their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Evercore ISI lifted 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 research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

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.