Alpha Cubed Investments LLC Sells 1,400 Shares of Simon Property Group, Inc. (NYSE:SPG)

Alpha Cubed Investments LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 38.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,285 shares of the real estate investment trust’s stock after selling 1,400 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPG. Arlington Trust Co LLC bought a new stake in Simon Property Group during the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC boosted its position in shares of Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Selway Asset Management acquired a new stake in shares of Simon Property Group in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Simon Property Group during the third quarter worth $33,000. Finally, BOK Financial Private Wealth Inc. bought a new position in Simon Property Group during the fourth quarter worth $34,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of several research analyst reports. Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI lifted their price objective on 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, 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 research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Stock Down 0.2 %

Shares of NYSE:SPG opened at $140.18 on Thursday. 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 firm has a market cap of $45.68 billion, a P/E ratio of 20.08, a P/E/G ratio of 7.37 and a beta of 1.68. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The company’s 50-day moving average price is $148.57 and its two-hundred day moving average price is $137.74.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) 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%. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.15 earnings per share. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.56%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

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

Simon Property Group Company 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.