Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 77.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,230 shares of the real estate investment trust's stock after buying an additional 7,075 shares during the quarter. Miracle Mile Advisors LLC's holdings in Simon Property Group were worth $2,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group in the third quarter worth about $834,000. First Hawaiian Bank increased its position in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after acquiring an additional 1,372 shares during the period. Red Cedar Investment Management LLC raised its stake in shares of Simon Property Group by 153.2% during the third 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 acquiring an additional 10,644 shares in the last quarter. TTP Investments Inc. boosted its holdings in shares of Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock valued at $5,796,000 after purchasing an additional 10,147 shares during the period. Finally, Versant Capital Management Inc grew its stake in Simon Property Group by 72.8% in the fourth 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 in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Simon Property Group stock traded up $0.71 during trading on Tuesday, reaching $173.51. The company had a trading volume of 1,067,932 shares, compared to its average volume of 1,509,388. The firm's 50-day simple moving average is $177.38 and its 200 day simple moving average is $167.43. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The firm has a market capitalization of $56.61 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $3.20 EPS. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.84%. Simon Property Group's payout ratio is presently 111.85%.

Analysts Set New Price Targets

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

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

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.