Schnieders Capital Management LLC Has $356,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Schnieders Capital Management LLC trimmed its stake in Simon Property Group, Inc. (NYSE:SPG) by 12.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,498 shares of the real estate investment trust’s stock after selling 350 shares during the period. Schnieders Capital Management LLC’s holdings in Simon Property Group were worth $356,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Cascade Investment Group Inc. grew its holdings in Simon Property Group by 0.5% in the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after purchasing an additional 80 shares during the period. Salem Investment Counselors Inc. grew its holdings in shares of Simon Property Group by 16.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 80 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of Simon Property Group by 2.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 81 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Simon Property Group by 1.9% during the third quarter. Evergreen Capital Management LLC now owns 4,583 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 85 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in shares of Simon Property Group by 0.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,600 shares of the real estate investment trust’s stock valued at $1,369,000 after buying an additional 86 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

SPG stock traded down $0.97 during mid-day trading on Wednesday, hitting $142.81. The company had a trading volume of 1,055,127 shares, compared to its average volume of 1,476,944. The firm has a market cap of $46.54 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a quick ratio of 1.77 and a current ratio of 1.77. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82. The stock’s fifty day moving average price is $149.30 and its two-hundred day moving average price is $136.47.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). The business had revenue of $1.53 billion during 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 business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.15 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group declared that its board has approved a share buyback program on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. The ex-dividend date was Thursday, March 7th. This represents a $7.80 annualized dividend and a yield of 5.46%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is currently 111.75%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of analyst reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Truist Financial raised their price target 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. Evercore ISI raised their price target 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. Finally, Morgan Stanley raised 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 report on Monday, February 26th. Four 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, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.22.

Simon Property Group 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.