Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,153 shares of the real estate investment trust's stock after purchasing an additional 1,446 shares during the quarter. SteelPeak Wealth LLC's holdings in Simon Property Group were worth $1,576,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC bought a new stake in Simon Property Group in the 3rd quarter valued at $42,000. Eastern Bank acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 214 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $2.06 during trading on Thursday, hitting $175.69. 1,093,584 shares of the company were exchanged, compared to its average volume of 1,267,477. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $57.32 billion, a PE ratio of 23.39, a P/E/G ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a 52-week low of $135.15 and a 52-week high of $186.00. The stock has a 50 day moving average of $176.35 and a 200 day moving average of $169.34.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.78%. Simon Property Group's payout ratio is currently 111.85%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent analyst reports. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 price objective for the company. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average price target of $172.10.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

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.