Simon Property Group, Inc. (NYSE:SPG) is Foundry Partners LLC’s 7th Largest Position

Foundry Partners LLC lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,477 shares of the real estate investment trust’s stock after selling 23,480 shares during the quarter. Simon Property Group makes up approximately 1.6% of Foundry Partners LLC’s holdings, making the stock its 7th biggest position. Foundry Partners LLC owned about 0.06% of Simon Property Group worth $25,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arlington Trust Co LLC purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $25,000. DT Investment Partners LLC increased its holdings in Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Selway Asset Management purchased a new stake in Simon Property Group in the 3rd quarter worth approximately $26,000. Financial Freedom LLC purchased a new stake in Simon Property Group in the 4th quarter worth approximately $27,000. Finally, Tyler Stone Wealth Management purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG traded up $0.07 during trading on Friday, reaching $140.44. 1,116,221 shares of the company traded hands, compared to its average volume of 1,179,003. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $45.77 billion, a P/E ratio of 20.12, a PEG ratio of 7.37 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 firm has a fifty day simple moving average of $149.36 and a 200 day simple moving average of $135.92.

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 analysts’ consensus estimates of $3.34 by ($1.05). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.15 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $1.95 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group’s dividend payout ratio is currently 111.75%.

Simon Property Group declared that its board has approved a share repurchase plan 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 purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.