Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by AXS Investments LLC

AXS Investments LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 53.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the real estate investment trust’s stock after buying an additional 4,720 shares during the quarter. AXS Investments LLC’s holdings in Simon Property Group were worth $1,926,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SPG. BOK Financial Private Wealth Inc. purchased a new stake in Simon Property Group in the 4th quarter worth approximately $34,000. Bruce G. Allen Investments LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $41,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Simon Property Group in the 3rd quarter worth about $33,000. Highlander Capital Management LLC raised its stake in shares of Simon Property Group by 183.5% during the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Simon Property Group during the 4th quarter worth about $46,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $1.53 during mid-day trading on Thursday, hitting $144.66. The company had a trading volume of 1,079,314 shares, compared to its average volume of 1,455,618. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The business’s 50-day simple moving average is $147.55 and its 200-day simple moving average is $141.79. 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 cap of $47.15 billion, a P/E ratio of 18.54, a PEG ratio of 8.78 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business posted $2.74 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, analysts predict that Simon Property Group, Inc. will post 12.87 earnings per share for the current fiscal year.

Simon Property Group declared that its board has initiated a stock buyback program on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.53%. The ex-dividend date is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is 99.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley increased their price objective 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. Scotiabank upped their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI upped their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Truist Financial upped their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.40.

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.