Syon Capital LLC Grows Holdings in Simon Property Group, Inc. (NYSE:SPG)

Syon Capital LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 70.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,929 shares of the real estate investment trust’s stock after buying an additional 2,441 shares during the period. Syon Capital LLC’s holdings in Simon Property Group were worth $846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. grew its stake in Simon Property Group by 8.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,513 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 555 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Simon Property Group by 57.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,985 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 722 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $363,000. Parkside Financial Bank & Trust lifted its holdings in shares of Simon Property Group by 62.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,202 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 460 shares during the last quarter. Finally, Sage Mountain Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted 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. Evercore ISI upped 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 report on Wednesday, February 28th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley boosted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Stock Down 0.3 %

Shares of NYSE:SPG traded down $0.37 during midday trading on Friday, reaching $142.36. The company’s stock had a trading volume of 936,327 shares, compared to its average volume of 1,476,633. The firm has a 50 day moving average of $149.19 and a 200-day moving average of $136.55. The firm has a market capitalization of $46.40 billion, a P/E ratio of 20.54, a PEG ratio of 7.49 and a beta of 1.65. 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, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82.

Simon Property Group (NYSE:SPG) last released its 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 earnings per share. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 5.48%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is 111.75%.

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.