Fiduciary Alliance LLC Purchases Shares of 21,216 Simon Property Group, Inc. (NYSE:SPG)

Fiduciary Alliance LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,216 shares of the real estate investment trust's stock, valued at approximately $3,654,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. BOKF NA grew its holdings in shares of Simon Property Group by 1,720.6% in the 2nd quarter. BOKF NA now owns 3,805 shares of the real estate investment trust's stock worth $578,000 after acquiring an additional 3,596 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Simon Property Group by 4.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 38,598 shares of the real estate investment trust's stock valued at $5,859,000 after buying an additional 1,579 shares during the last quarter. Federated Hermes Inc. grew its position in Simon Property Group by 19.7% in the second quarter. Federated Hermes Inc. now owns 21,012 shares of the real estate investment trust's stock worth $3,190,000 after acquiring an additional 3,465 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Simon Property Group by 64.9% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 17,792 shares of the real estate investment trust's stock valued at $2,701,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Simon Property Group by 3.5% during the second quarter. Parallel Advisors LLC now owns 4,810 shares of the real estate investment trust's stock valued at $730,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target on the stock. Evercore ISI upgraded Simon Property Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $172.10.

Simon Property Group Stock Performance

SPG stock traded up $2.02 during mid-day trading on Monday, hitting $172.98. The company had a trading volume of 1,256,984 shares, compared to its average volume of 1,572,455. 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 $56.44 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The stock's fifty day moving average price is $177.40 and its two-hundred day moving average price is $167.28.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the company earned $3.20 earnings per share. Simon Property Group's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Monday, December 9th. Simon Property Group's dividend payout ratio is presently 111.85%.

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.