Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 38.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,285 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $326,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPG. Raymond James & Associates increased its holdings in Simon Property Group by 1.2% in the 3rd quarter. Raymond James & Associates now owns 233,143 shares of the real estate investment trust’s stock valued at $25,186,000 after purchasing an additional 2,785 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Simon Property Group by 8.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 58,386 shares of the real estate investment trust’s stock valued at $6,307,000 after purchasing an additional 4,739 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $25,000. Stratos Wealth Partners LTD. increased its holdings in Simon Property Group by 11.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,514 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 256 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Simon Property Group by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 65,872 shares of the real estate investment trust’s stock valued at $7,116,000 after purchasing an additional 294 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $140.18 on Thursday. The company has a market cap of $45.68 billion, a PE ratio of 20.08, a P/E/G ratio of 7.37 and a beta of 1.68. 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 50-day simple moving average of $148.57 and a 200 day simple moving average of $137.74. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54.

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). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $3.15 earnings per share. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group declared that its board has approved a stock repurchase 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 reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This is an increase 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 dividend yield of 5.56%. Simon Property Group’s payout ratio is 111.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SPG shares. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley raised their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Truist Financial upped their target price 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. Finally, Evercore ISI lifted their price target on 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target of $140.22.

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.