Clearwater Capital Advisors LLC Takes $257,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Clearwater Capital Advisors LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,800 shares of the real estate investment trust’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPG. DT Investment Partners LLC raised its holdings in shares of Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management purchased a new stake in shares of Simon Property Group during the 3rd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $33,000. BOK Financial Private Wealth Inc. acquired a new position in Simon Property Group in the fourth quarter worth approximately $34,000. Finally, Bruce G. Allen Investments LLC bought a new position in Simon Property Group during the fourth quarter valued at approximately $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. 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 report on Wednesday, February 28th. Truist Financial upped their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Morgan Stanley lifted their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Price Performance

Simon Property Group stock traded up $1.32 during mid-day trading on Thursday, hitting $149.20. 541,206 shares of the company were exchanged, compared to its average volume of 1,482,909. The business has a fifty day moving average of $148.08 and a 200 day moving average of $138.97. The company has a quick ratio of 1.77, a current 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 market capitalization of $48.62 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 7.50 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $2.74 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 5.36%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend is Friday, June 7th. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

Simon Property Group declared that its board has authorized a share repurchase program 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 buy up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Simon Property Group

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.