HighTower Advisors LLC Purchases 42,068 Shares of Simon Property Group, Inc. (NYSE:SPG)

HighTower Advisors LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 935,479 shares of the real estate investment trust's stock after acquiring an additional 42,068 shares during the period. HighTower Advisors LLC owned about 0.29% of Simon Property Group worth $161,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SPG. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the third quarter valued at approximately $30,000. Assetmark Inc. increased its holdings in Simon Property Group by 3.8% during the third quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust's stock valued at $1,482,000 after buying an additional 322 shares during the period. Baker Avenue Asset Management LP purchased a new position in Simon Property Group during the third quarter valued at approximately $236,000. Ashton Thomas Securities LLC purchased a new position in Simon Property Group during the third quarter valued at approximately $52,000. Finally, Venturi Wealth Management LLC increased its holdings in Simon Property Group by 16.5% during the third quarter. Venturi Wealth Management LLC now owns 622 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 88 shares during the period. Institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective on the stock. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target 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 target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Mizuho lifted their price target 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $180.33.

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Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm's 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 directly owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Simon Property Group Price Performance

Shares of SPG opened at $163.64 on Wednesday. The firm has a market capitalization of $53.39 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company's fifty day moving average price is $177.75 and its 200-day moving average price is $174.60.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 5.13%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

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.

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