Strategic Financial Concepts LLC Purchases 473,779 Shares of Simon Property Group, Inc. (NYSE:SPG)

Strategic Financial Concepts LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 17,222.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 476,530 shares of the real estate investment trust's stock after buying an additional 473,779 shares during the period. Strategic Financial Concepts LLC owned about 0.15% of Simon Property Group worth $82,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Simon Property Group during the 3rd quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. Eastern Bank bought a new position in Simon Property Group during the third quarter worth $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the third quarter valued at $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 target price for the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Mizuho lifted 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $175.10.

Simon Property Group Stock Up 0.2 %

SPG stock traded up $0.37 during midday trading on Monday, reaching $180.31. 781,984 shares of the company's stock traded hands, compared to its average volume of 1,275,368. 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 firm's fifty day moving average price is $175.50 and its 200-day moving average price is $170.58. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00. The company has a market cap of $58.83 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results 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%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.66%. Simon Property Group's dividend payout ratio (DPR) is currently 115.70%.

Insider Activity at Simon Property Group

In other 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 price 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 approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.50% 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.