Schwarz Dygos Wheeler Investment Advisors LLC Invests $209,000 in Simon Property Group, Inc. (NYSE:SPG)

Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,467 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC purchased a new position in shares of Simon Property Group in the third quarter worth about $25,000. DT Investment Partners LLC raised its stake in Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares during the period. Selway Asset Management purchased a new position in Simon Property Group during the third quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Simon Property Group during the third quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group during the fourth quarter worth about $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPG has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. 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 upped their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, Evercore ISI lifted their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Trading Down 0.3 %

Shares of NYSE SPG traded down $0.37 during trading on Friday, reaching $142.36. The stock had a trading volume of 1,026,159 shares, compared to its average volume of 1,112,382. The company has a market cap of $46.40 billion, a P/E ratio of 20.40, a PEG ratio of 7.49 and a beta of 1.65. The business’s 50-day moving average price is $149.04 and its 200-day moving average price is $136.81. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $3.15 earnings per share. On average, equities research analysts predict 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. Investors of record on Friday, March 8th were issued a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.48%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Simon Property Group declared that its board has initiated a share buyback plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.