Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,542 shares of the real estate investment trust’s stock after purchasing an additional 71 shares during the period. Signaturefd LLC’s holdings in Simon Property Group were worth $954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. OneDigital Investment Advisors LLC raised its position in shares of Simon Property Group by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,509 shares of the real estate investment trust’s stock worth $1,100,000 after purchasing an additional 190 shares during the last quarter. Caprock Group LLC raised its position in shares of Simon Property Group by 207.8% during the 3rd quarter. Caprock Group LLC now owns 15,665 shares of the real estate investment trust’s stock worth $2,648,000 after purchasing an additional 10,575 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Simon Property Group by 96,913.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 163,953 shares of the real estate investment trust’s stock worth $27,711,000 after purchasing an additional 163,784 shares during the last quarter. Smead Capital Management Inc. raised its position in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in shares of Simon Property Group by 61.8% during the 3rd quarter. Prospera Financial Services Inc now owns 17,858 shares of the real estate investment trust’s stock worth $3,019,000 after purchasing an additional 6,819 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.3 %

Shares of NYSE SPG opened at $164.70 on Wednesday. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $190.14. The firm has a fifty day moving average of $176.70 and a 200-day moving average of $174.47. The stock has a market capitalization of $53.74 billion, a PE ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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, analysts anticipate 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 paid 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 5.10%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, 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 can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Company 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.