Ibex Wealth Advisors Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Ibex Wealth Advisors acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,346 shares of the real estate investment trust's stock, valued at approximately $404,000.

A number of other hedge funds also recently modified their holdings of SPG. Renaissance Technologies LLC bought a new position in shares of Simon Property Group in the 2nd quarter worth about $364,000. Ascent Group LLC raised its position in shares of Simon Property Group by 11.4% during the second quarter. Ascent Group LLC now owns 1,948 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 199 shares during the period. Algert Global LLC lifted its holdings in shares of Simon Property Group by 38.0% in the 2nd quarter. Algert Global LLC now owns 2,805 shares of the real estate investment trust's stock worth $426,000 after purchasing an additional 772 shares in the last quarter. Creative Planning grew its holdings in shares of Simon Property Group by 2.5% during the second quarter. Creative Planning now owns 75,982 shares of the real estate investment trust's stock valued at $11,534,000 after buying an additional 1,854 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Simon Property Group by 14.1% in the second quarter. NewEdge Advisors LLC now owns 13,400 shares of the real estate investment trust's stock worth $2,034,000 after purchasing an additional 1,654 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPG shares. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. 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, 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 report on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $172.10.

Simon Property Group Trading Up 1.8 %

Shares of NYSE:SPG traded up $3.21 during trading on Thursday, reaching $176.84. 371,671 shares of the company traded hands, compared to its average volume of 1,227,294. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The business's fifty day moving average is $176.35 and its 200-day moving average is $169.34. The firm has a market capitalization of $57.70 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly 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). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.20 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.75%. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group's payout ratio is presently 111.85%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group 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 purchase, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

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.