Kestra Private Wealth Services LLC Has $2.74 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Kestra Private Wealth Services LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 407.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,893 shares of the real estate investment trust's stock after purchasing an additional 12,758 shares during the period. Kestra Private Wealth Services LLC's holdings in Simon Property Group were worth $2,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank grew its position in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC grew its position 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 valued at $2,973,000 after buying an additional 10,644 shares during the last quarter. TTP Investments Inc. grew its position in shares of Simon Property Group by 42.0% during the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock valued at $5,796,000 after buying an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $1.10 during trading on Friday, reaching $185.12. The company had a trading volume of 998,005 shares, compared to its average volume of 1,178,802. The firm's fifty day moving average is $175.72 and its 200 day moving average is $171.45. The firm has a market capitalization of $60.40 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $175.10.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 8.50% of the company's stock.

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.