Stock Yards Bank & Trust Co. Acquires 106 Shares of Simon Property Group, Inc. (NYSE:SPG)

Stock Yards Bank & Trust Co. raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,134 shares of the real estate investment trust’s stock after acquiring an additional 106 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Simon Property Group were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SPG. CWM LLC grew its position in Simon Property Group by 33.5% in the 3rd quarter. CWM LLC now owns 6,412 shares of the real estate investment trust’s stock valued at $693,000 after acquiring an additional 1,608 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Simon Property Group during the 3rd quarter worth $44,000. Caprock Group LLC grew its position in shares of Simon Property Group by 6.2% during the 3rd quarter. Caprock Group LLC now owns 3,195 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 187 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Simon Property Group by 5.1% during the 3rd quarter. Proficio Capital Partners LLC now owns 2,660 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 128 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Simon Property Group by 47.7% during the 3rd quarter. Czech National Bank now owns 57,186 shares of the real estate investment trust’s stock worth $6,178,000 after buying an additional 18,478 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.7 %

Shares of NYSE SPG opened at $142.82 on Thursday. The business has a fifty day moving average price of $149.30 and a 200 day moving average price of $136.51. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $157.82. The stock has a market capitalization of $46.55 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 7.54 and a beta of 1.65.

Simon Property Group (NYSE:SPG) last released its quarterly 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). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business posted $3.15 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current fiscal year.

Simon Property Group announced that its board has approved a share repurchase plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $1.95 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a yield of 5.46%. Simon Property Group’s dividend payout ratio (DPR) is 111.75%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPG. Truist Financial increased their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley increased their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Evercore ISI increased their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.