Rockland Trust Co. has acquired 2,050 shares of Simon Property Group, Inc. (SPG:NYE) worth around $241,000 during the fourth quarter, according to the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Other hedge funds and institutional investors have also either increased or reduced their positions in SPG stock.
In particular, AMI Investment Management Inc. now owns 17,576 shares worth $2,312,000, while Raymond James Trust N.A. owns 4,138 shares worth $544,000. Meanwhile, Blair William & Co. IL’s position in Simon Property Group has increased by 56.8% to 55,270 shares worth $7,271,000.
On the other hand, Prudential PLC has acquired a new stake worth $642,000, and Dakota Wealth Management has purchased a new stake worth approximately $390,000. Institutional investors now own around 83.89% of the SPG stock.
SPG Stock Price Analysis:
Several brokerages have recently issued reports on SPG, with an average target price of $124.50. Analysts forecast that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.
The company’s stock has a market capitalization of $36.61 billion, a P/E ratio of 17.17, and a beta of 1.52. The company has a 50-day moving average of $119.05 and a 200-day moving average of $113.61.
Simon Property Group, Inc. reported a net margin of 40.43% and a return on equity of 60.33%. However, the real estate investment trust’s quarterly earnings data for Q4 2021 showed that it missed the consensus estimate of $3.14 EPS, posting only $2.06 EPS for the quarter. The company’s revenue for the same quarter was $1.40 billion, beating analysts’ expectations of $1.29 billion.
Recently, the company declared a quarterly dividend of $1.80, which was paid on March 31st to stockholders of record as of March 10th. The ex-dividend date of this dividend was March 9th, representing a $7.20 dividend on an annualized basis and a dividend yield of 6.43%.
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.
