1,592 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,592 shares of the real estate investment trust’s stock, valued at approximately $227,000.

A number of other institutional investors have also bought and sold shares of SPG. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Simon Property Group during the third quarter worth approximately $33,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $34,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $41,000. Highlander Capital Management LLC grew its holdings in shares of Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 200 shares during the period. Finally, Anchor Investment Management LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $46,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPG. Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI lifted their target price on 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 increased their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Finally, Scotiabank upped their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.40.

Simon Property Group Stock Performance

Shares of SPG stock opened at $146.17 on Thursday. Simon Property Group, Inc. has a 52 week low of $100.17 and a 52 week high of $157.82. The firm has a 50 day moving average of $147.55 and a two-hundred day moving average of $141.79. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock has a market capitalization of $47.64 billion, a PE ratio of 18.62, a P/E/G ratio of 8.78 and a beta of 1.68.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 5.47%. The ex-dividend date is Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s payout ratio is 99.36%.

Simon Property Group announced that its board has initiated a stock buyback 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 repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are 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.