Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 72.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,820 shares of the real estate investment trust’s stock after selling 171,955 shares during the period. Edgar Lomax Co. VA’s holdings in Simon Property Group were worth $11,335,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SPG. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC lifted its position in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.5 %

NYSE SPG opened at $150.31 on Friday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The stock has a 50-day simple moving average of $166.96 and a 200 day simple moving average of $172.57. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $49.04 billion, a PE ratio of 20.70, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research report on Wednesday, April 9th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $181.39.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.