Sage Mountain Advisors LLC Takes $210,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Sage Mountain Advisors LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, Holdings Channel.com reports. The fund purchased 1,470 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other large investors have also made changes to their positions in SPG. Arlington Trust Co LLC purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $25,000. DT Investment Partners LLC boosted its stake in shares of Simon Property Group by 714.3% during the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Selway Asset Management acquired a new stake in shares of Simon Property Group during the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley raised 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 note on Monday, February 26th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Trading Up 1.0 %

NYSE SPG opened at $143.78 on Wednesday. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $157.82. The company’s 50 day moving average price is $149.30 and its 200 day moving average price is $136.47. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 7.47 and a beta of 1.65.

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

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $1.95 per share. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.42%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

Simon Property Group announced that its board has initiated a share repurchase plan on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.