Argentarii LLC Makes New $1.23 Million Investment in Simon Property Group, Inc. (NYSE:SPG)

Argentarii LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,136 shares of the real estate investment trust's stock, valued at approximately $1,229,000.

Several other large investors have also recently bought and sold shares of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock worth $212,906,000 after buying an additional 993,694 shares in the last quarter. Hamlin Capital Management LLC acquired a new position in Simon Property Group during the 4th quarter worth $109,403,000. Mizuho Securities USA LLC lifted its holdings in Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust's stock worth $111,247,000 after buying an additional 633,072 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock worth $151,597,000 after buying an additional 554,605 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPG shares. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $180.33.

Simon Property Group Trading Up 1.5 %

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 1,338,288. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The firm has a 50-day moving average of $177.62 and a 200 day moving average of $174.54. The company has a market cap of $54.15 billion, a P/E ratio of 22.86, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates 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, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate 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.