Newbridge Financial Services Group Inc. Purchases Shares of 1,455 Simon Property Group, Inc. (NYSE:SPG)

Newbridge Financial Services Group Inc. bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,455 shares of the real estate investment trust's stock, valued at approximately $250,000.

Other hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust's stock valued at $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. raised its stake in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust's stock valued at $442,892,000 after purchasing an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock valued at $251,484,000 after purchasing an additional 25,519 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust's stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Simon Property Group by 6.9% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust's stock valued at $193,023,000 after purchasing an additional 73,742 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company's stock.

Simon Property Group Trading Up 1.3 %

SPG traded up $2.36 during trading on Thursday, reaching $186.24. The company had a trading volume of 1,355,124 shares, compared to its average volume of 1,337,777. The firm's 50-day simple moving average is $175.60 and its 200 day simple moving average is $171.12. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $187.10. 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 data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's payout ratio is presently 115.70%.

Analysts Set New Price Targets

SPG has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. 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 price target on the stock. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $175.10.

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.