Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,625 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in Simon Property Group were worth $232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in Simon Property Group by 2.7% during the third quarter. Private Advisor Group LLC now owns 22,108 shares of the real estate investment trust’s stock valued at $2,388,000 after purchasing an additional 589 shares in the last quarter. Signaturefd LLC lifted its holdings in Simon Property Group by 7.1% during the third quarter. Signaturefd LLC now owns 4,772 shares of the real estate investment trust’s stock valued at $516,000 after purchasing an additional 318 shares in the last quarter. NBC Securities Inc. purchased a new position in Simon Property Group during the third quarter valued at $310,000. Lincoln National Corp lifted its holdings in Simon Property Group by 7.3% during the third quarter. Lincoln National Corp now owns 2,499 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 170 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Simon Property Group by 4.1% during the third quarter. Victory Capital Management Inc. now owns 255,039 shares of the real estate investment trust’s stock valued at $27,552,000 after purchasing an additional 9,950 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. 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. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. 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, Scotiabank raised their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $141.40.

Simon Property Group Trading Up 2.2 %

SPG stock traded up $3.22 during trading on Friday, reaching $147.88. 1,410,906 shares of the stock were exchanged, compared to its average volume of 1,358,638. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The business has a 50 day moving average price of $147.40 and a 200-day moving average price of $142.21. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. The firm has a market capitalization of $48.20 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 8.77 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business earned $2.74 earnings per share. Simon Property Group’s revenue was up 6.8% on a year-over-year basis. On average, research analysts predict that Simon Property Group, Inc. will post 12.87 earnings per share for the current year.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.41%. Simon Property Group’s dividend payout ratio (DPR) is currently 99.36%.

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.