Lake Street Advisors Group LLC Has $3.36 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Lake Street Advisors Group LLC raised its position in Simon Property Group, Inc. (NYSE:SPG) by 181.8% during the fourth quarter, Holdings Channel reports. The firm owned 19,517 shares of the real estate investment trust’s stock after purchasing an additional 12,590 shares during the period. Lake Street Advisors Group LLC’s holdings in Simon Property Group were worth $3,361,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Childress Capital Advisors LLC lifted its holdings in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 58 shares during the period. Global X Japan Co. Ltd. raised its position in shares of Simon Property Group by 9.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 59 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its position in shares of Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Down 0.5 %

Shares of Simon Property Group stock opened at $183.69 on Wednesday. The firm has a market cap of $59.93 billion, a PE ratio of 25.30, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a fifty day moving average price of $176.50 and a 200-day moving average price of $173.25.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Mizuho boosted 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.10.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by company insiders.

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.