Fidelis Capital Partners LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Fidelis Capital Partners LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,419 shares of the real estate investment trust’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in shares of Simon Property Group by 11.0% in the 4th quarter. Xponance Inc. now owns 55,408 shares of the real estate investment trust’s stock valued at $7,903,000 after purchasing an additional 5,490 shares in the last quarter. Federated Hermes Inc. lifted its position in Simon Property Group by 10.2% during the fourth quarter. Federated Hermes Inc. now owns 18,107 shares of the real estate investment trust’s stock valued at $2,583,000 after buying an additional 1,674 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Simon Property Group by 61.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 210 shares during the period. KLCM Advisors Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter worth $448,000. Finally, Sloy Dahl & Holst LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at $240,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.0 %

NYSE:SPG opened at $140.44 on Friday. The stock has a market cap of $45.77 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65. Simon Property Group, Inc. has a one year low of $100.17 and a one year 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. The business’s 50-day simple moving average is $149.36 and its 200 day simple moving average is $135.70.

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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $3.15 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated 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 buy up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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 dividend of $1.95 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday. Evercore ISI increased their target price 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. Morgan Stanley raised their target price on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.