Artemis Investment Management LLP Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Artemis Investment Management LLP purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 143,474 shares of the real estate investment trust's stock, valued at approximately $24,708,000.

Other large investors have also recently modified their holdings of the company. HB Wealth Management LLC lifted its holdings in shares of Simon Property Group by 14.0% in the 4th quarter. HB Wealth Management LLC now owns 5,851 shares of the real estate investment trust's stock worth $1,008,000 after buying an additional 718 shares during the period. InTrack Investment Management Inc lifted its stake in Simon Property Group by 54.6% in the fourth quarter. InTrack Investment Management Inc now owns 4,743 shares of the real estate investment trust's stock worth $823,000 after acquiring an additional 1,675 shares during the period. Merit Financial Group LLC bought a new position in Simon Property Group during the 4th quarter worth about $416,000. Avanza Fonder AB purchased a new position in Simon Property Group during the 4th quarter valued at about $4,229,000. Finally, Ritholtz Wealth Management raised its holdings in shares of Simon Property Group by 12.4% in the 4th quarter. Ritholtz Wealth Management now owns 11,068 shares of the real estate investment trust's stock valued at $1,906,000 after purchasing an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $1.57 during mid-day trading on Monday, hitting $174.28. The stock had a trading volume of 1,302,389 shares, compared to its average volume of 1,322,182. The company has a 50 day moving average of $177.19 and a two-hundred day moving average of $167.97. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $56.86 billion, a PE ratio of 23.21, a PEG ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $3.20 EPS. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Simon Property Group, Inc. will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is 111.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SPG shares. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. 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 research report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $172.10.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by insiders.

Simon Property Group Company Profile

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.