LMG Wealth Partners LLC Makes New $235,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

LMG Wealth Partners LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,366 shares of the real estate investment trust's stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the fourth quarter valued at $41,000. Eastern Bank acquired a new position in Simon Property Group in the third quarter valued at $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth about $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business's stock in a transaction 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 acquisition, the director now owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $175.10.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $2.77 during trading on Friday, hitting $183.94. 589,262 shares of the company were exchanged, compared to its average volume of 1,270,585. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a 50 day moving average price of $176.29 and a 200 day moving average price of $172.35. The stock has a market capitalization of $60.02 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 10.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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 return on equity of 74.02% and a net margin of 41.49%. On average, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 4.57%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Simon Property Group 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.