Sage Mountain Advisors LLC Makes New $210,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Sage Mountain Advisors LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,470 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. CWM LLC raised its holdings in shares of Simon Property Group by 33.5% in the third quarter. CWM LLC now owns 6,412 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 1,608 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Simon Property Group by 21.6% in the third quarter. IFP Advisors Inc now owns 3,979 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 706 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Simon Property Group by 12.3% in the third quarter. Ritholtz Wealth Management now owns 3,339 shares of the real estate investment trust’s stock worth $361,000 after buying an additional 365 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Simon Property Group by 4.3% in the third quarter. Arkadios Wealth Advisors now owns 2,375 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 99 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Simon Property Group in the third quarter worth $44,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Simon Property Group Stock Up 1.0 %

SPG stock opened at $143.78 on Wednesday. The firm has a market cap of $46.86 billion, a PE ratio of 20.60, a P/E/G ratio of 7.47 and a beta of 1.65. 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 firm’s fifty day moving average is $149.30 and its 200 day moving average is $136.47. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82.

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 the consensus estimate of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $3.15 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current year.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $1.95 dividend. 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. This represents a $7.80 annualized dividend and a dividend yield of 5.42%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

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.