LSV Asset Management Has $75 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

LSV Asset Management lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 525,800 shares of the real estate investment trust’s stock after selling 91,345 shares during the quarter. LSV Asset Management’s holdings in Simon Property Group were worth $75,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. Raymond James & Associates grew its position in Simon Property Group by 1.2% in the third quarter. Raymond James & Associates now owns 233,143 shares of the real estate investment trust’s stock valued at $25,186,000 after acquiring an additional 2,785 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Simon Property Group by 8.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 58,386 shares of the real estate investment trust’s stock valued at $6,307,000 after purchasing an additional 4,739 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Simon Property Group by 11.3% in the third quarter. Stratos Wealth Partners LTD. now owns 2,514 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 256 shares in the last quarter. Monument Capital Management grew its stake in shares of Simon Property Group by 11.8% during the third quarter. Monument Capital Management now owns 3,030 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 321 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Simon Property Group by 37.3% during the third quarter. Lindbrook Capital LLC now owns 1,540 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 418 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPG shares. 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 target on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Morgan Stanley upped their price objective 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. Finally, Truist Financial lifted their target price 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Trading Up 1.1 %

Simon Property Group stock traded up $1.57 during mid-day trading on Friday, hitting $142.93. 1,257,436 shares of the stock were exchanged, compared to its average volume of 1,222,757. The firm’s fifty day simple moving average is $148.21 and its two-hundred day simple moving average is $138.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The stock has a market capitalization of $46.58 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 7.50 and a beta of 1.68.

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 for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.15 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 annualized dividend and a yield of 5.46%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Simon Property Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.