Venturi Wealth Management LLC Has $128,000 Holdings in Simon Property Group, Inc. (NYSE:SPG)

Venturi Wealth Management LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 746 shares of the real estate investment trust’s stock after buying an additional 124 shares during the period. Venturi Wealth Management LLC’s holdings in Simon Property Group were worth $128,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPG. Eastern Bank acquired a new position in shares of Simon Property Group during the third quarter worth $42,000. International Assets Investment Management LLC increased its holdings in shares of Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Simon Property Group by 29.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock worth $1,389,000 after buying an additional 1,871 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Simon Property Group by 8.6% in the third quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after purchasing an additional 607 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Simon Property Group by 1.6% in the third quarter. Ballentine Partners LLC now owns 4,702 shares of the real estate investment trust’s stock worth $795,000 after purchasing an additional 75 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG opened at $183.86 on Friday. 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 market capitalization of $59.99 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The firm’s fifty day simple moving average is $176.37 and its two-hundred day simple moving average is $172.72. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates 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, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 4.57%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SPG shares. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $175.10.

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.