Ibex Wealth Advisors Makes New $404,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Ibex Wealth Advisors purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel reports. The fund purchased 2,346 shares of the real estate investment trust’s stock, valued at approximately $404,000.

A number of other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group during the 3rd quarter valued at $834,000. First Hawaiian Bank increased its position in Simon Property Group by 35.0% during 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 during the period. Red Cedar Investment Management LLC raised its holdings 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 valued at $2,973,000 after purchasing an additional 10,644 shares in the last quarter. TTP Investments Inc. lifted its position in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after purchasing an additional 10,147 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of 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 purchasing an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPG. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised shares of 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.10.

Simon Property Group Price Performance

NYSE SPG opened at $173.86 on Thursday. The company has a market cap of $56.73 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 9.26 and a beta of 1.75. 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 stock’s fifty day moving average price is $176.49 and its 200 day moving average price is $169.30. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $3.20 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is 111.85%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’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 completion of the transaction, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

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.