Palogic Value Management L.P. Raises Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Palogic Value Management L.P. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,705 shares of the real estate investment trust’s stock after purchasing an additional 419 shares during the quarter. Palogic Value Management L.P.’s holdings in Simon Property Group were worth $1,099,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. grew its position in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter worth $34,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth $41,000. Highlander Capital Management LLC raised its stake in Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 200 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Simon Property Group in the fourth quarter valued at about $46,000. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of research reports. Argus increased their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Truist Financial raised their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI raised their target price on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.60.

Simon Property Group Trading Down 0.9 %

SPG stock traded down $1.32 during midday trading on Thursday, hitting $151.84. 1,073,388 shares of the company’s stock were exchanged, compared to its average volume of 1,475,289. The business has a 50-day simple moving average of $146.87 and a two-hundred day simple moving average of $145.12. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock has a market capitalization of $49.49 billion, a PE ratio of 19.34, a P/E/G ratio of 9.04 and a beta of 1.71. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 5.27%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. Simon Property Group’s payout ratio is presently 101.91%.

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.