Wingate Wealth Advisors Inc. Makes New $41,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 237 shares of the real estate investment trust’s stock, valued at approximately $41,000.

A number of other hedge funds also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank grew its holdings in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC raised its position in 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 buying an additional 10,644 shares during the last quarter. TTP Investments Inc. lifted its stake in 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 valued at $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 2.1 %

Simon Property Group stock opened at $184.37 on Wednesday. The stock has a 50-day simple moving average of $175.48 and a 200 day simple moving average of $170.80. The stock has a market capitalization of $60.16 billion, a P/E ratio of 25.40, a PEG ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share 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 given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $175.10.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate 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.