Ninety One SA PTY Ltd Sells 1,103 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ninety One SA PTY Ltd trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,705 shares of the real estate investment trust’s stock after selling 1,103 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Simon Property Group were worth $671,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Arlington Trust Co LLC bought a new position in Simon Property Group during the third quarter worth about $25,000. DT Investment Partners LLC increased its holdings in Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 200 shares during the period. Selway Asset Management bought a new position in Simon Property Group in the 3rd quarter valued at about $26,000. Financial Freedom LLC bought a new position in Simon Property Group in the 4th quarter valued at about $27,000. Finally, Tyler Stone Wealth Management bought a new position in Simon Property Group in the 2nd quarter valued at about $27,000. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SPG. Piper Sandler raised their target price on shares of Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. The Goldman Sachs Group raised their target price on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Evercore ISI raised their price target on shares of 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Trading Down 0.4 %

NYSE:SPG traded down $0.63 during mid-day trading on Thursday, hitting $140.31. 459,423 shares of the company’s stock were exchanged, compared to its average volume of 1,497,314. The company has a 50 day simple moving average of $149.56 and a 200-day simple moving average of $135.19. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. 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 market capitalization of $45.73 billion, a P/E ratio of 20.13, a PEG ratio of 7.36 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share 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 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 annualized dividend and a yield of 5.56%. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Simon Property Group declared that its Board of Directors has initiated a share buyback program on Thursday, February 8th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are often a sign 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.