Secured Retirement Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,138 shares of the real estate investment trust's stock, valued at approximately $1,229,000.
Several other institutional investors and hedge funds have also recently modified their holdings of SPG. Capital Performance Advisors LLP bought a new stake in Simon Property Group in the 3rd quarter worth approximately $30,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group in the fourth quarter worth $41,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at about $41,000. Eastern Bank purchased a new position in shares of Simon Property Group in the third quarter worth about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 93.01% of the company's stock.
Simon Property Group Stock Down 0.1 %
Simon Property Group stock traded down $0.16 during mid-day trading on Wednesday, reaching $185.88. The stock had a trading volume of 783,141 shares, compared to its average volume of 1,303,497. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.13. The company has a 50-day moving average price of $175.91 and a two-hundred day moving average price of $172.16. The company has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results 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%. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS 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. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.
Insiders Place Their Bets
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 purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company's stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several analysts have weighed in on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $179.00 to $198.00 in a research 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 company a "neutral" rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $175.10.
Check Out Our Latest Analysis on SPG
About Simon Property Group
(
Free Report)
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.
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