LMG Wealth Partners LLC Purchases New Position in Simon Property Group, Inc. (NYSE:SPG)

LMG Wealth Partners LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,366 shares of the real estate investment trust’s stock, valued at approximately $235,000.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter worth $41,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. Eastern Bank acquired a new stake in shares of Simon Property Group in the third quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $185.88 on Thursday. The firm’s 50 day simple moving average is $176.10 and its 200 day simple moving average is $172.25. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The company has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 10.06 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.52%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group 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 purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

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.