On September 3, 2023, it was reported that Smead Capital Management Inc. has increased its position in shares of Simon Property Group, Inc. by 3.1% during the first quarter. According to the filing made by Smead Capital Management Inc. with the Securities & Exchange Commission, they now own a total of 2,457,290 shares of Simon Property Group’s stock after acquiring an additional 73,263 shares during the given period. As a result of this acquisition, Simon Property Group now accounts for approximately 5.5% of Smead Capital Management Inc.’s portfolio and is their eighth largest position. At the end of the most recent reporting period, Smead Capital Management Inc.’s ownership stake in Simon Property Group had an estimated value of $275,143,000.
Simon Property Group is known as a real estate investment trust that specializes in owning premier shopping, dining, entertainment, and mixed-use destinations throughout North America, Europe and Asia. As an influential player in the industry and being listed as an S&P 100 company (Simon Property Group NYSE: SPG), its properties serve as community gathering places for millions of people each day and generate billions in annual sales.
Recently, Simon Property Group announced a quarterly dividend payment that is scheduled to be paid out on Friday, September 29th. Shareholders who are recorded as such on Friday, September 8th will receive a dividend of $1.90 per share. This represents an increase from their previous quarterly dividend payout of $1.85 per share. The annualized dividend amounts to $7.60 per share and presents a yield of 6.62%. It is important to note that investors who purchase shares after Thursday, September 7th will not be eligible for this upcoming dividend.
As we analyze Simon Property Group’s dividend payout ratio (DPR), it reveals a value of 112.46% at present. This ratio suggests that the company is paying out more than its earnings in dividends, which could potentially be an area of concern for investors.
In conclusion, Smead Capital Management Inc.’s decision to increase its position in Simon Property Group reflects confidence in the company’s future prospects. With its vast portfolio of premier properties and continued dividend payments, Simon Property Group remains an important player in the real estate investment industry. However, investors should be cautious and consider the high dividend payout ratio when evaluating the potential returns and risks associated with investing in this stock.
Institutional Investors Show Confidence in Simon Property Group as Stock Performance and Analyst Reports Vary
Simon Property Group, Inc. (NYSE: SPG), a prominent real estate investment trust, has attracted the attention of various institutional investors and hedge funds. These investors have been actively buying and selling shares of SPG, contributing to its overall market dynamics.
One notable investor, Muzinich & Co. Inc., acquired a new stake in Simon Property Group during the 4th quarter of 2022. This investment was valued at approximately $25,000. Similarly, US Asset Management LLC followed suit by purchasing a new position in SPG during the same quarter, with an approximate value of $26,000. Householder Group Estate & Retirement Specialist LLC also saw potential in Simon Property Group and invested $27,000 in the company during the first quarter of this year. Additionally, Financial Freedom LLC and West Branch Capital LLC joined the group of institutional investors by acquiring new positions worth around $27,000 and $34,000 respectively.
These investments indicate strong support from institutional investors who believe in the potential growth prospects offered by Simon Property Group. In fact, institutional investors now own approximately 84.73% of the company’s stock.
As for its trading performance on September 3rd, 2023, SPG shares traded at $114.85 per share during mid-day trading on the New York Stock Exchange (NYSE). The company experienced a trading volume of 861,488 shares that day compared to its average daily volume of 1,494,299 shares. It’s worth noting that Simon Property Group’s 52-week range spans from a low of $86.02 to a high of $133.08.
Simon Property Group has established itself as a preeminent player in the real estate industry through its ownership of premier shopping centers, dining establishments, entertainment venues, and mixed-use destinations across North America, Europe, and Asia. As an S&P 100 company listed under NYSE ticker symbol SPG, the company serves as a gathering place for millions of people each day and generates billions of dollars in annual sales.
Various analyst reports have shed light on Simon Property Group’s performance and prospects. For instance, Mizuho lowered their price target for SPG from $116.00 to $106.00 in a research report released on May 26th. Conversely, Stifel Nicolaus increased their price target to $139.00 from an initial $130.00 in a research note dated July 12th. Truist Financial also issued their own price target by reducing it from $130.00 to $125.00 and determining a “hold” rating for the company in a research note published recently.
Additionally, JPMorgan Chase & Co. adjusted its price objective for SPG from $125.00 to $124.00 while retaining a “neutral” rating on the stock earlier this week. Lastly, Wolfe Research upgraded Simon Property Group’s rating from “peer perform” to “outperform” and backed it up with a $127.00 price objective according to a report on July 5th.
Overall, analysts maintain varying perspectives on the future trajectory of Simon Property Group’s stock performance. Bloomberg.com reports that the average rating is “Moderate Buy,” with an estimated consensus price target of approximately $128.36.
Given these recent developments and investment trends surrounding SPG, it is important for investors and market participants to carefully consider these factors before making any investment decisions related to Simon Property Group’s stock (SPG).