Apollon Wealth Management LLC Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Apollon Wealth Management LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,746 shares of the real estate investment trust's stock after buying an additional 2,045 shares during the quarter. Apollon Wealth Management LLC's holdings in Simon Property Group were worth $1,506,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Clientfirst Wealth Management LLC acquired a new stake in Simon Property Group in the fourth quarter worth $274,000. Joel Isaacson & Co. LLC grew its holdings in Simon Property Group by 17.1% in the fourth quarter. Joel Isaacson & Co. LLC now owns 3,978 shares of the real estate investment trust's stock worth $685,000 after purchasing an additional 582 shares during the period. Golden State Wealth Management LLC acquired a new stake in Simon Property Group in the fourth quarter worth $45,000. Global X Japan Co. Ltd. lifted its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after buying an additional 59 shares in the last quarter. Finally, William Allan Corp lifted its stake in shares of Simon Property Group by 7.0% in the fourth quarter. William Allan Corp now owns 2,063 shares of the real estate investment trust's stock valued at $355,000 after buying an additional 135 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPG shares. Deutsche Bank Aktiengesellschaft started 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. Jefferies Financial Group raised 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 note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho raised 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $175.10.

Simon Property Group Stock Down 0.6 %

Shares of SPG traded down $1.10 during trading hours on Friday, reaching $185.12. 998,005 shares of the stock traded hands, compared to its average volume of 1,326,453. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a fifty day simple moving average of $175.69 and a 200 day simple moving average of $171.22. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.14. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.54%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio is 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction dated 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 purchase, the director now directly 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company's stock.

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.