Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 49.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,212 shares of the real estate investment trust's stock after buying an additional 15,325 shares during the period. Concurrent Investment Advisors LLC's holdings in Simon Property Group were worth $7,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group in the third quarter worth $834,000. First Hawaiian Bank lifted its holdings in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC boosted its stake in shares of Simon Property Group by 153.2% during the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust's stock worth $2,973,000 after purchasing an additional 10,644 shares during the period. Versant Capital Management Inc grew its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPG. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted their price objective on 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 initiated 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. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $175.10.

Simon Property Group Stock Down 1.5 %

NYSE:SPG traded down $2.85 during mid-day trading on Friday, reaching $183.86. The company's stock had a trading volume of 1,367,631 shares, compared to its average volume of 1,294,712. 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 1 year low of $139.25 and a 1 year high of $188.13. The stock has a fifty day moving average of $176.29 and a 200-day moving average of $172.35. The firm has a market capitalization of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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

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.