1,600 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by JFG Wealth Management LLC

JFG Wealth Management LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,600 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC increased its position in Simon Property Group by 16.6% during the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after buying an additional 51,380 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of 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 acquiring an additional 6,703 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Simon Property Group by 121.5% in 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 acquiring an additional 17,552 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Simon Property Group in the 4th quarter worth approximately $238,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Simon Property Group by 9.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,813 shares of the real estate investment trust’s stock worth $11,670,000 after purchasing an additional 7,250 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPG. Evercore ISI lifted 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 report on Wednesday, February 28th. Truist Financial raised their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley increased their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $140.22.

Simon Property Group Price Performance

NYSE SPG traded up $0.02 during trading hours on Thursday, reaching $140.20. 254,067 shares of the company’s stock were exchanged, compared to its average volume of 1,462,007. The firm has a fifty day moving average of $148.57 and a 200-day moving average of $137.74. 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 one year low of $100.17 and a one year high of $157.82. The stock has a market cap of $45.69 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 7.37 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last issued its quarterly 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 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 period in the prior year, the business earned $3.15 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date was Thursday, March 7th. 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 has authorized a stock repurchase program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding 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 often a sign that the company’s board of directors believes its shares are undervalued.

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.