Simplicity Solutions LLC Has $849,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Simplicity Solutions LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,955 shares of the real estate investment trust’s stock after buying an additional 340 shares during the quarter. Simplicity Solutions LLC’s holdings in Simon Property Group were worth $849,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Simon Property Group by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 8,144,366 shares of the real estate investment trust’s stock valued at $910,337,000 after buying an additional 765,146 shares during the last quarter. Cowa LLC acquired a new stake in Simon Property Group in the 1st quarter valued at approximately $107,000. Norges Bank acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $807,887,000. Morgan Stanley increased its position in shares of Simon Property Group by 6.9% during the 4th quarter. Morgan Stanley now owns 6,500,305 shares of the real estate investment trust’s stock worth $763,656,000 after purchasing an additional 421,554 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Simon Property Group by 1.9% during the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust’s stock worth $512,624,000 after purchasing an additional 86,778 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SPG. Evercore ISI boosted their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group boosted their price target on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Piper Sandler boosted their price target on Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Finally, Morgan Stanley boosted their price target 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.22.

Simon Property Group Stock Performance

SPG opened at $140.35 on Wednesday. The business has a fifty day simple moving average of $149.61 and a 200 day simple moving average of $135.15. The company has a market capitalization of $45.74 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. 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 (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 the consensus estimate of $3.34 by ($1.05). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.15 earnings per share. Research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.56%. Simon Property Group’s payout ratio is currently 111.75%.

Simon Property Group declared that its Board of Directors has authorized a stock 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.