Lindbrook Capital LLC Grows Position in Simon Property Group, Inc. (NYSE:SPG)

Lindbrook Capital LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,649 shares of the real estate investment trust’s stock after acquiring an additional 109 shares during the period. Lindbrook Capital LLC’s holdings in Simon Property Group were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in shares of Simon Property Group by 1.9% in the third 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. Charles Schwab Investment Management Inc. increased its stake in Simon Property Group by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,465,010 shares of the real estate investment trust’s stock worth $374,325,000 after acquiring an additional 40,630 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Simon Property Group by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust’s stock worth $260,265,000 after acquiring an additional 71,751 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Simon Property Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust’s stock valued at $229,897,000 after acquiring an additional 26,491 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Simon Property Group by 5.9% in the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock valued at $203,866,000 after purchasing an additional 105,606 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $142.37 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. The stock’s fifty day moving average is $149.29 and its two-hundred day moving average is $136.19. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The company has a market capitalization of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $3.15 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group announced that its board has authorized a stock repurchase plan on Thursday, February 8th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.48%. Simon Property Group’s payout ratio is presently 111.75%.

Analyst Ratings Changes

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

Simon Property Group 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.