Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by InTrack Investment Management Inc

InTrack Investment Management Inc grew its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 54.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,743 shares of the real estate investment trust's stock after buying an additional 1,675 shares during the quarter. InTrack Investment Management Inc's holdings in Simon Property Group were worth $823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the third quarter worth about $834,000. First Hawaiian Bank raised its holdings in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC lifted its position in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust's stock worth $2,973,000 after purchasing an additional 10,644 shares during the period. TTP Investments Inc. boosted its stake in shares of Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust's stock valued at $5,796,000 after purchasing an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock valued at $172,000 after buying an additional 421 shares during the period. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $1.57 during midday trading on Friday, reaching $174.28. The company had a trading volume of 1,302,389 shares, compared to its average volume of 1,322,182. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The business's 50-day simple moving average is $177.19 and its 200 day simple moving average is $167.83. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $56.86 billion, a P/E ratio of 23.21, a P/E/G ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $3.20 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.74 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.82%. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio is 111.85%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPG. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price for the company. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $172.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is currently owned by insiders.

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.