Xponance Inc. Buys 5,490 Shares of Simon Property Group, Inc. (NYSE:SPG)

Xponance Inc. grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 11.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 55,408 shares of the real estate investment trust’s stock after purchasing an additional 5,490 shares during the quarter. Xponance Inc.’s holdings in Simon Property Group were worth $7,903,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Federated Hermes Inc. grew its holdings in shares of Simon Property Group by 10.2% in the 4th quarter. Federated Hermes Inc. now owns 18,107 shares of the real estate investment trust’s stock valued at $2,583,000 after acquiring an additional 1,674 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Simon Property Group by 61.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 210 shares during the period. KLCM Advisors Inc. bought a new position in Simon Property Group during the fourth quarter worth about $448,000. Sloy Dahl & Holst LLC bought a new position in Simon Property Group during the fourth quarter worth about $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Simon Property Group by 0.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 306,179 shares of the real estate investment trust’s stock worth $43,673,000 after purchasing an additional 1,485 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Evercore ISI lifted their price target on 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 lifted their price target 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. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Stock Up 0.0 %

NYSE SPG opened at $140.44 on Friday. 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, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The company has a 50 day moving average of $149.36 and a 200-day moving average of $135.48. The company has a market cap of $45.77 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 7.37 and a beta of 1.65.

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

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $1.95 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.55%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s payout ratio is currently 111.75%.

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.