CWA Asset Management Group LLC Sells 930 Shares of Simon Property Group, Inc. (NYSE:SPG)

CWA Asset Management Group LLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,221 shares of the real estate investment trust’s stock after selling 930 shares during the quarter. CWA Asset Management Group LLC’s holdings in Simon Property Group were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. increased its stake in shares of Simon Property Group by 42.1% in the third quarter. Avantax Advisory Services Inc. now owns 5,373 shares of the real estate investment trust’s stock worth $580,000 after buying an additional 1,593 shares during the period. Banco Santander S.A. purchased a new position in shares of Simon Property Group in the third quarter worth $328,000. Amalgamated Bank increased its stake in shares of Simon Property Group by 4.7% in the third quarter. Amalgamated Bank now owns 86,999 shares of the real estate investment trust’s stock worth $9,399,000 after buying an additional 3,938 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Simon Property Group by 12.8% in the third quarter. Banque Cantonale Vaudoise now owns 9,805 shares of the real estate investment trust’s stock worth $1,059,000 after buying an additional 1,116 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Simon Property Group by 23.1% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 3,134 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 588 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. 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 research note on Monday, February 26th. Scotiabank boosted their price objective 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. Truist Financial boosted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Evercore ISI boosted their price objective 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

Get Our Latest Research Report on Simon Property Group

Simon Property Group Stock Up 0.6 %

Simon Property Group stock traded up $0.85 during midday trading on Tuesday, hitting $152.45. 326,916 shares of the company’s stock were exchanged, compared to its average volume of 1,450,489. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market cap of $49.69 billion, a PE ratio of 19.31, a P/E/G ratio of 9.00 and a beta of 1.71. The firm has a 50-day moving average of $146.87 and a two-hundred day moving average of $143.71. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.74 earnings per share. As a group, analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is 99.36%.

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

About Simon Property Group

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPGFree Report).

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.