Ninepoint Partners LP Has $125,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Ninepoint Partners LP reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 23.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873 shares of the real estate investment trust’s stock after selling 261 shares during the quarter. Ninepoint Partners LP’s holdings in Simon Property Group were worth $125,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Arlington Trust Co LLC bought a new position in Simon Property Group in the third quarter valued at about $25,000. DT Investment Partners LLC boosted its holdings in Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Selway Asset Management bought a new position in Simon Property Group in the third quarter valued at about $26,000. Financial Freedom LLC bought a new position in Simon Property Group in the fourth quarter valued at about $27,000. Finally, Tyler Stone Wealth Management bought a new position in Simon Property Group in the second quarter valued at about $27,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent analyst reports. Evercore ISI raised 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. The Goldman Sachs Group raised their target price on Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley raised their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Truist Financial raised 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group Stock Up 0.2 %

Shares of NYSE:SPG traded up $0.31 during trading on Friday, hitting $140.68. 409,636 shares of the company were exchanged, compared to its average volume of 1,490,950. The stock has a market cap of $45.85 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 7.39 and a beta of 1.65. Simon Property Group, Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The firm has a fifty day moving average price of $149.49 and a two-hundred day moving average price of $135.23. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.15 earnings per share. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $1.95 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is 111.75%.

Simon Property Group announced that its board has initiated a stock repurchase program on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes 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 board believes its stock is 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.