Entropy Technologies LP Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Entropy Technologies LP bought a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 28,424 shares of the real estate investment trust's stock, valued at approximately $4,895,000.

Several other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in shares of Simon Property Group during the second quarter worth approximately $364,000. CWM LLC grew its stake in Simon Property Group by 3.3% in the third quarter. CWM LLC now owns 9,382 shares of the real estate investment trust's stock worth $1,586,000 after purchasing an additional 302 shares in the last quarter. UMB Bank n.a. increased its holdings in Simon Property Group by 7.1% during the 3rd quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 154 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Simon Property Group by 433.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,954 shares of the real estate investment trust's stock valued at $499,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Simon Property Group by 1.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 9,444 shares of the real estate investment trust's stock worth $1,596,000 after buying an additional 130 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Down 0.3 %

NYSE SPG traded down $0.62 during trading on Wednesday, hitting $183.76. The company's stock had a trading volume of 1,394,250 shares, compared to its average volume of 1,337,118. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $186.00. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a market cap of $59.96 billion, a PE ratio of 25.31, a P/E/G ratio of 9.58 and a beta of 1.74. The business's 50 day simple moving average is $175.56 and its 200-day simple moving average is $171.03.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. Simon Property Group's dividend payout ratio is currently 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business's stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SPG. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $175.10.

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.