Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Mather Group LLC.

Mather Group LLC. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,066 shares of the real estate investment trust’s stock after selling 627 shares during the quarter. Mather Group LLC.’s holdings in Simon Property Group were worth $437,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Group LLC boosted its holdings in shares of Simon Property Group by 9.1% during the fourth quarter. Fiduciary Group LLC now owns 26,884 shares of the real estate investment trust’s stock worth $3,835,000 after purchasing an additional 2,239 shares during the period. Bruni J V & Co. Co. raised its holdings in shares of Simon Property Group by 0.6% during the 4th quarter. Bruni J V & Co. Co. now owns 142,515 shares of the real estate investment trust’s stock valued at $20,328,000 after purchasing an additional 798 shares in the last quarter. Opinicus Capital Inc. bought a new position in shares of Simon Property Group during the 4th quarter valued at $493,000. Russell Investments Group Ltd. raised its holdings in Simon Property Group by 7.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,653,052 shares of the real estate investment trust’s stock worth $236,153,000 after acquiring an additional 114,653 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in Simon Property Group in the 4th quarter worth $209,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG opened at $140.18 on Thursday. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The firm has a fifty day simple moving average of $148.57 and a 200 day simple moving average of $137.74. The stock has a market capitalization of $45.68 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 7.37 and a beta of 1.68. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 company 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%. Simon Property Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 earnings per share. Research analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group announced that its board has authorized a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in outstanding 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 often an indication that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 annualized dividend and a yield of 5.56%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI boosted their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Morgan Stanley boosted their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Truist Financial lifted their target price on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target 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.