Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,953 shares of the real estate investment trust's stock after buying an additional 1,615 shares during the quarter. Sheets Smith Wealth Management's holdings in Simon Property Group were worth $5,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Simon Property Group by 25.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 182,040 shares of the real estate investment trust's stock worth $31,349,000 after buying an additional 36,898 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Simon Property Group by 6.5% in the 4th quarter. Atomi Financial Group Inc. now owns 6,102 shares of the real estate investment trust's stock valued at $1,051,000 after purchasing an additional 373 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Simon Property Group by 9.4% in the fourth quarter. Alpha Cubed Investments LLC now owns 3,551 shares of the real estate investment trust's stock valued at $612,000 after purchasing an additional 305 shares during the period. Hamlin Capital Management LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $109,403,000. Finally, Ballentine Partners LLC lifted its holdings in shares of Simon Property Group by 12.6% during the fourth quarter. Ballentine Partners LLC now owns 5,296 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 594 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed 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. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $172.10.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

SPG stock traded down $2.26 during midday trading on Wednesday, hitting $173.70. 511,993 shares of the stock were exchanged, compared to its average volume of 1,334,304. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $56.67 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 9.33 and a beta of 1.75. Simon Property Group, Inc. has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The stock's 50-day moving average price is $177.00 and its 200-day moving average price is $168.36.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $3.20 earnings per share. Simon Property Group's quarterly revenue was up 4.9% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is presently 111.85%.

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.