Simon Property Group, Inc. (NYSE:SPG) Shares Sold by White Pine Capital LLC

White Pine Capital LLC lowered its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,025 shares of the real estate investment trust’s stock after selling 80 shares during the quarter. White Pine Capital LLC’s holdings in Simon Property Group were worth $289,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Simon Property Group by 13,226.4% in the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Simon Property Group in the third quarter valued at about $69,423,000. American Century Companies Inc. boosted its holdings in Simon Property Group by 65.3% in the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after purchasing an additional 337,430 shares during the last quarter. Sapient Capital LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $25,725,000. Finally, Schroder Investment Management Group boosted its holdings in Simon Property Group by 16.6% in the third quarter. Schroder Investment Management Group now owns 1,267,131 shares of the real estate investment trust’s stock valued at $136,888,000 after purchasing an additional 180,318 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPG shares. Morgan Stanley increased their price target on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Truist Financial increased their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Evercore ISI increased their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.22.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $0.37 during mid-day trading on Friday, hitting $142.36. The company had a trading volume of 1,026,159 shares, compared to its average volume of 1,112,382. The stock has a market cap of $46.40 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s 50 day simple moving average is $149.04 and its two-hundred day simple moving average is $137.02.

Simon Property Group (NYSE:SPG) last posted its 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). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group declared that its Board of Directors has initiated a stock 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 purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.48%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.75%.

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.