Verdence Capital Advisors LLC Has $863,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Verdence Capital Advisors LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,048 shares of the real estate investment trust’s stock after selling 202 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Simon Property Group were worth $863,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Cowa LLC purchased a new position in Simon Property Group during the 1st quarter worth $107,000. Norges Bank bought a new position in shares of Simon Property Group during the fourth quarter valued at about $807,887,000. International Assets Investment Management LLC boosted its holdings in Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares during the last quarter. Geode Capital Management LLC grew 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 worth $910,337,000 after purchasing an additional 765,146 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Simon Property Group by 527.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 804,952 shares of the real estate investment trust’s stock valued at $105,899,000 after buying an additional 676,627 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.0 %

Shares of SPG opened at $140.44 on Monday. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The business has a 50-day moving average of $149.36 and a 200 day moving average of $135.92. The firm has a market cap of $45.77 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65. 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 posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate 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%. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.15 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group announced that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $1.95 dividend. 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 dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Morgan Stanley upped their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Truist Financial boosted their price target 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.