Sapient Capital LLC Acquires Shares of 180,346 Simon Property Group, Inc. (NYSE:SPG)

Sapient Capital LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 180,346 shares of the real estate investment trust's stock, valued at approximately $25,725,000. Simon Property Group makes up about 0.8% of Sapient Capital LLC's portfolio, making the stock its 28th largest holding. Sapient Capital LLC owned approximately 0.06% of Simon Property Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its stake in shares of Simon Property Group by 66.1% during the fourth quarter. Cerity Partners LLC now owns 11,939 shares of the real estate investment trust's stock worth $1,703,000 after acquiring an additional 4,750 shares during the last quarter. Indie Asset Partners LLC purchased a new stake in Simon Property Group during the 4th quarter worth approximately $203,000. Capital Square LLC acquired a new position in Simon Property Group during the 4th quarter valued at approximately $263,000. Capasso Planning Partners LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth $204,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Simon Property Group by 66.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,034 shares of the real estate investment trust's stock worth $861,000 after buying an additional 2,406 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPG shares. Morgan Stanley upped their target price on 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. Piper Sandler raised their price objective on Simon Property Group from $148.00 to $172.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 20th. Truist Financial upped their target price on Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a research report on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Simon Property Group from $144.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $140.22.

Simon Property Group Stock Performance

SPG stock traded up $1.26 during trading on Thursday, hitting $146.81. 1,333,607 shares of the company traded hands, compared to its average volume of 1,531,220. Simon Property Group, Inc. has a 1 year low of $100.17 and a 1 year high of $157.82. The company has a market cap of $47.85 billion, a PE ratio of 20.81, a P/E/G ratio of 7.89 and a beta of 1.65. The stock's 50-day simple moving average is $149.28 and its 200 day simple moving average is $134.01. 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 (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $3.15 earnings per share. Simon Property Group's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a $1.95 dividend. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.31%. This is an increase from Simon Property Group's previous quarterly dividend of $1.90. Simon Property Group's dividend payout ratio is 111.75%.

Simon Property Group declared that its board has authorized a share repurchase program 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 reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

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.