1,844 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Vicus Capital

Vicus Capital bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,844 shares of the real estate investment trust’s stock, valued at approximately $263,000.

Other institutional investors have also made changes to their positions in the company. Cowa LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at $107,000. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter valued at $807,887,000. International Assets Investment Management LLC lifted its position in shares of Simon Property Group by 13,226.4% during 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 period. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 10.4% during 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 period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Simon Property Group by 527.3% during 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 period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG traded up $0.07 on Friday, reaching $140.44. The stock had a trading volume of 1,116,221 shares, compared to its average volume of 1,179,003. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The firm has a 50-day moving average of $149.36 and a 200-day moving average of $135.70. 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 company has a market capitalization of $45.77 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last issued 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). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $3.15 EPS. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio is presently 111.75%.

Analysts Set New Price Targets

SPG has been the subject of a number of recent analyst reports. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. 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. Finally, Evercore ISI boosted their price target 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. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.22.

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.