6,565 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by AlphaQuest LLC

AlphaQuest LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,565 shares of the real estate investment trust's stock, valued at approximately $1,131,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter valued at $30,000. CWA Asset Management Group LLC bought a new position in shares of Simon Property Group in the third quarter worth $1,503,000. Assetmark Inc. raised its stake in Simon Property Group by 3.8% in the third quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust's stock valued at $1,482,000 after purchasing an additional 322 shares in the last quarter. Lindbrook Capital LLC lifted its position in Simon Property Group by 34.9% during the third quarter. Lindbrook Capital LLC now owns 2,328 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 602 shares during the period. Finally, Del Sette Capital Management LLC lifted its position in Simon Property Group by 1.8% during the third quarter. Del Sette Capital Management LLC now owns 12,583 shares of the real estate investment trust's stock worth $2,127,000 after purchasing an additional 218 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $180.33.

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Simon Property Group Price Performance

Shares of SPG traded up $2.47 during trading hours on Wednesday, reaching $165.95. The stock had a trading volume of 1,951,062 shares, compared to its average volume of 1,338,635. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The stock has a market capitalization of $54.15 billion, a PE ratio of 22.86, a PEG ratio of 10.10 and a beta of 1.78. The company's 50-day moving average is $177.62 and its two-hundred day moving average is $174.54.

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

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group's dividend payout ratio is presently 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business's stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company's stock.

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.