Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,722 shares of the real estate investment trust’s stock after acquiring an additional 208 shares during the period. Stratos Wealth Partners LTD.’s holdings in Simon Property Group were worth $388,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPG. Arlington Trust Co LLC acquired a new position in Simon Property Group during the 3rd quarter worth about $25,000. DT Investment Partners LLC lifted its stake in Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management acquired a new position in Simon Property Group during the 3rd quarter worth about $26,000. Financial Freedom LLC acquired a new position in Simon Property Group during the 4th quarter worth about $27,000. Finally, Tyler Stone Wealth Management acquired a new position in Simon Property Group during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.4 %

SPG opened at $144.81 on Friday. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The company has a market cap of $47.19 billion, a P/E ratio of 20.75, a PEG ratio of 7.60 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The business’s 50-day simple moving average is $149.56 and its 200-day simple moving average is $134.50.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) 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 analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business earned $3.15 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $1.95 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Simon Property Group announced that its board has approved a stock repurchase plan 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 repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SPG shares. Piper Sandler increased their price target on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a research report on Wednesday, December 20th. Truist Financial increased 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 raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Morgan Stanley increased their price target 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. Finally, Evercore ISI increased their price target on 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.22.

About Simon Property Group

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.