JFG Wealth Management LLC Purchases Shares of 1,600 Simon Property Group, Inc. (NYSE:SPG)

JFG Wealth Management LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,600 shares of the real estate investment trust’s stock, valued at approximately $228,000.

A number of other large investors have also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. raised its stake in Simon Property Group by 60.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 9,339 shares of the real estate investment trust’s stock worth $1,332,000 after acquiring an additional 3,526 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Simon Property Group by 10.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 26,446 shares of the real estate investment trust’s stock valued at $3,772,000 after purchasing an additional 2,436 shares during the period. New York Life Investment Management LLC raised its position in shares of Simon Property Group by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 50,819 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 185 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Simon Property Group by 40.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 665 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 193 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in Simon Property Group by 160.1% in the 4th 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. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on SPG shares. Evercore ISI boosted their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Morgan Stanley boosted their price target on 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 objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Price Performance

Shares of SPG traded up $0.02 during mid-day trading on Thursday, hitting $140.20. 254,067 shares of the stock were exchanged, compared to its average volume of 1,462,007. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $45.69 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 7.37 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 firm has a 50-day moving average of $148.57 and a two-hundred day moving average of $137.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.15 earnings per share. On average, equities analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Simon Property Group declared that its board has authorized a share buyback plan on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is 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.