Evergreen Capital Management LLC Buys 181 Shares of Simon Property Group, Inc. (NYSE:SPG)

Evergreen Capital Management LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,074 shares of the real estate investment trust’s stock after buying an additional 181 shares during the period. Evergreen Capital Management LLC’s holdings in Simon Property Group were worth $315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SPG. Vanguard Group Inc. raised its position in Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Boston Partners lifted its position in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after buying an additional 92,648 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock worth $283,905,000 after buying an additional 78,866 shares in the last quarter. PGGM Investments grew its position in Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after acquiring an additional 23,186 shares during the last quarter. Finally, Sei Investments Co. grew its position in Simon Property Group by 13.7% during the fourth quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock valued at $155,030,000 after acquiring an additional 130,729 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.8 %

Shares of NYSE:SPG opened at $167.71 on Friday. The stock’s 50-day moving average is $160.77 and its 200 day moving average is $152.74. The company has a market cap of $54.68 billion, a PE ratio of 21.36, a P/E/G ratio of 9.32 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $170.87.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm posted $2.88 earnings per share. Simon Property Group’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.89%. Simon Property Group’s dividend payout ratio is 104.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPG. Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank boosted their target price on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $162.78.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.