Aew Capital Management L P Has $71.88 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Aew Capital Management L P lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 503,925 shares of the real estate investment trust’s stock after selling 9,350 shares during the quarter. Simon Property Group accounts for 2.6% of Aew Capital Management L P’s holdings, making the stock its 16th largest position. Aew Capital Management L P’s holdings in Simon Property Group were worth $71,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. International Assets Investment Management LLC increased its stake in shares of Simon Property Group by 13,226.4% in the fourth 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 buying an additional 913,678 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $69,423,000. American Century Companies Inc. increased its stake in shares of Simon Property Group by 65.3% in the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after buying an additional 337,430 shares during the period. Sapient Capital LLC bought a new stake in Simon Property Group in the fourth quarter valued at approximately $25,725,000. Finally, Schroder Investment Management Group boosted its holdings in Simon Property Group by 16.6% in the third quarter. Schroder Investment Management Group now owns 1,267,131 shares of the real estate investment trust’s stock valued at $136,888,000 after acquiring an additional 180,318 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPG. Evercore ISI upped their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Truist Financial upped their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, Morgan Stanley increased 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Stock Down 0.3 %

Shares of NYSE:SPG traded down $0.37 during trading on Friday, reaching $142.36. 859,442 shares of the stock were exchanged, compared to its average volume of 1,478,664. 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 1-year low of $100.17 and a 1-year high of $157.82. The stock has a fifty day moving average of $149.04 and a two-hundred day moving average of $136.81. The firm has a market cap of $46.40 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 7.49 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 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $3.15 earnings per share. Simon Property Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business 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 is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group announced that its board has approved a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is 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.