Quantbot Technologies LP Invests $1.66 Million in Simon Property Group, Inc. (NYSE:SPG)

Quantbot Technologies LP purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,627 shares of the real estate investment trust's stock, valued at approximately $1,658,000.

Other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC boosted its stake in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $30,000. TCTC Holdings LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.1 %

Shares of SPG stock traded down $0.21 during trading hours on Tuesday, hitting $165.91. 1,661,777 shares of the company's stock traded hands, compared to its average volume of 1,342,980. 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 stock's fifty day simple moving average is $175.98 and its two-hundred day simple moving average is $174.45. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78.

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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 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%. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group's payout ratio is currently 115.70%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SPG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Jefferies Financial Group raised 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 report on Thursday, January 2nd. Mizuho upped their price target 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. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $180.33.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.