Beaumont Asset Management L.L.C. Sells 1,904 Shares of Simon Property Group, Inc. (NYSE:SPG)

Beaumont Asset Management L.L.C. decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the real estate investment trust’s stock after selling 1,904 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Simon Property Group were worth $277,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SPG. International Assets Investment Management LLC grew its position in shares of Simon Property Group by 13,226.4% during the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after buying an additional 913,678 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $69,423,000. American Century Companies Inc. grew its position in shares of Simon Property Group by 65.3% during the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after buying an additional 337,430 shares during the period. Sapient Capital LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $25,725,000. Finally, Schroder Investment Management Group grew its position in shares of Simon Property Group by 16.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,267,131 shares of the real estate investment trust’s stock worth $136,888,000 after buying an additional 180,318 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.0 %

NYSE:SPG traded up $1.37 on Tuesday, reaching $143.78. 768,091 shares of the stock traded hands, compared to its average volume of 1,480,606. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 7.37 and a beta of 1.65. The company’s 50 day moving average is $149.29 and its 200-day moving average is $136.19. 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.

Simon Property Group (NYSE:SPG) last released its 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). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.15 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group announced that its board has initiated a stock repurchase plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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. The ex-dividend date was Thursday, March 7th. This represents a $7.80 annualized dividend and a dividend yield of 5.42%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Analyst Ratings Changes

SPG has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Evercore ISI lifted their price target on shares of 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. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley upped their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.