Sloy Dahl & Holst LLC Makes New $240,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Sloy Dahl & Holst LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,680 shares of the real estate investment trust’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cascade Investment Group Inc. grew its holdings in Simon Property Group by 0.5% in the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after purchasing an additional 80 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of Simon Property Group by 16.6% in the fourth quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 80 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of Simon Property Group by 2.4% in the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 81 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Simon Property Group by 1.9% in the third quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 85 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Simon Property Group by 0.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust’s stock worth $1,369,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock traded down $2.04 during midday trading on Wednesday, reaching $140.35. 1,301,665 shares of the company traded hands, compared to its average volume of 1,259,808. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The firm has a market capitalization of $45.74 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50 day moving average of $149.61 and a two-hundred day moving average of $135.15.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $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 predict 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. Shareholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This is a boost 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 5.56%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is currently 111.75%.

Simon Property Group announced 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 shares. This repurchase authorization permits the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SPG shares. Piper Sandler upped their target price on shares of Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Evercore ISI upped 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 research note on Wednesday, February 28th. Truist Financial upped their target price 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. Morgan Stanley upped 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 research note on Monday, February 26th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, 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.