Artemis Investment Management LLP Invests $24.71 Million in Simon Property Group, Inc. (NYSE:SPG)

Artemis Investment Management LLP bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 143,474 shares of the real estate investment trust’s stock, valued at approximately $24,708,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC increased its stake in shares of Simon Property Group by 14.0% during the fourth quarter. HB Wealth Management LLC now owns 5,851 shares of the real estate investment trust’s stock valued at $1,008,000 after acquiring an additional 718 shares during the period. InTrack Investment Management Inc increased its position in shares of Simon Property Group by 54.6% during the 4th quarter. InTrack Investment Management Inc now owns 4,743 shares of the real estate investment trust’s stock valued at $823,000 after purchasing an additional 1,675 shares during the period. Merit Financial Group LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth $416,000. Avanza Fonder AB acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $4,229,000. Finally, Ritholtz Wealth Management boosted its stake in Simon Property Group by 12.4% during the fourth quarter. Ritholtz Wealth Management now owns 11,068 shares of the real estate investment trust’s stock valued at $1,906,000 after buying an additional 1,217 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.9 %

Shares of Simon Property Group stock opened at $174.28 on Friday. Simon Property Group, Inc. has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a market cap of $56.86 billion, a P/E ratio of 23.21, a P/E/G ratio of 9.16 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a 50-day moving average price of $177.19 and a 200 day moving average price of $167.69.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $3.20 earnings per share. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts expect that Simon Property Group, Inc. will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. Simon Property Group’s dividend payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $172.10.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price 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 $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is 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.