Allworth Financial LP Buys 1,842 Shares of Simon Property Group, Inc. (NYSE:SPG)

Allworth Financial LP lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 140.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,152 shares of the real estate investment trust's stock after buying an additional 1,842 shares during the period. Allworth Financial LP's holdings in Simon Property Group were worth $545,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SPG. Principal Securities Inc. raised its position in Simon Property Group by 4.2% in the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock valued at $713,000 after purchasing an additional 166 shares during the last quarter. Everhart Financial Group Inc. increased its stake in shares of Simon Property Group by 6.9% in the fourth quarter. Everhart Financial Group Inc. now owns 3,558 shares of the real estate investment trust's stock valued at $613,000 after buying an additional 229 shares during the period. Asset Planning Inc acquired a new stake in Simon Property Group during the 4th quarter worth approximately $437,000. White Pine Capital LLC grew its holdings in Simon Property Group by 5.0% during the 4th quarter. White Pine Capital LLC now owns 3,149 shares of the real estate investment trust's stock worth $542,000 after acquiring an additional 150 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Simon Property Group by 10.0% during the 4th quarter. V Square Quantitative Management LLC now owns 2,319 shares of the real estate investment trust's stock worth $399,000 after acquiring an additional 210 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 1.5 %

SPG traded down $2.85 during trading on Friday, hitting $183.86. The company's stock had a trading volume of 1,367,631 shares, compared to its average volume of 1,294,712. The firm has a market capitalization of $59.99 billion, a P/E ratio of 25.32, a PEG ratio of 10.05 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. 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 moving average price is $176.29 and its 200-day moving average price is $172.35.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current 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 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm's stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company's stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SPG has been the subject of several analyst reports. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho raised 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. Deutsche Bank Aktiengesellschaft assumed coverage on 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, Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.