Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,649 shares of the real estate investment trust’s stock after acquiring an additional 109 shares during the quarter. Lindbrook Capital LLC’s holdings in Simon Property Group were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at about $25,000. DT Investment Partners LLC raised its holdings in Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Selway Asset Management purchased a new position in Simon Property Group in the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG opened at $142.37 on Tuesday. The firm has a 50-day simple moving average of $149.29 and a two-hundred day simple moving average of $136.19. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The stock has a market cap of $46.40 billion, a PE ratio of 20.40, a P/E/G ratio of 7.37 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last announced its 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 net margin of 42.30% and a return on equity of 70.97%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm earned $3.15 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given 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 yield of 5.48%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s payout ratio is currently 111.75%.

Simon Property Group declared that its board has approved a stock buyback 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 buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.