Vicus Capital Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Vicus Capital increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,061 shares of the real estate investment trust’s stock after purchasing an additional 217 shares during the quarter. Vicus Capital’s holdings in Simon Property Group were worth $323,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SPG. Nordea Investment Management AB grew its stake in shares of Simon Property Group by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 152,740 shares of the real estate investment trust’s stock valued at $21,923,000 after purchasing an additional 6,703 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of Simon Property Group in the 4th quarter worth approximately $5,706,000. SG Americas Securities LLC lifted its stake in shares of Simon Property Group by 121.5% in the 4th quarter. SG Americas Securities LLC now owns 32,003 shares of the real estate investment trust’s stock worth $4,565,000 after purchasing an additional 17,552 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Simon Property Group by 97.8% in the 4th quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock worth $10,708,000 after purchasing an additional 37,108 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Simon Property Group in the 4th quarter worth approximately $238,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Scotiabank lifted their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Truist Financial lifted their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.60.

Simon Property Group Price Performance

SPG opened at $151.80 on Friday. The business’s 50-day moving average is $147.63 and its two-hundred day moving average is $146.72. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $49.48 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 9.02 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $2.74 EPS. Simon Property Group’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $2.00 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.27%. Simon Property Group’s payout ratio is presently 101.91%.

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.