Simon Property Group, Inc. (NYSE:SPG) Stake Lowered by Schnieders Capital Management LLC

Schnieders Capital Management LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,498 shares of the real estate investment trust’s stock after selling 350 shares during the period. Schnieders Capital Management LLC’s holdings in Simon Property Group were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. LPL Financial LLC lifted its position in Simon Property Group by 16.6% in the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after purchasing an additional 51,380 shares during the period. Nordea Investment Management AB raised its stake in Simon Property Group by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after purchasing an additional 6,703 shares during the period. SG Americas Securities LLC raised its stake in Simon Property Group by 121.5% during the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock valued at $4,565,000 after purchasing an additional 17,552 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $238,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Simon Property Group by 9.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock valued at $11,670,000 after purchasing an additional 7,250 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPG. Morgan Stanley boosted their target price on shares of 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. Truist Financial upped 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 note on Friday, March 22nd. Evercore ISI upped their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Stock Down 0.7 %

NYSE:SPG traded down $0.97 during trading hours on Wednesday, reaching $142.81. The company’s stock had a trading volume of 1,055,127 shares, compared to its average volume of 1,476,944. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The business’s 50-day moving average is $149.30 and its 200-day moving average is $136.47. The company has a market cap of $46.54 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share 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 the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business posted $3.15 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

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

Simon Property Group announced that its board has authorized a stock buyback program on Thursday, February 8th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

About Simon Property Group

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.