SteelPeak Wealth LLC Has $1.58 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

SteelPeak Wealth LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 18.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,153 shares of the real estate investment trust’s stock after acquiring an additional 1,446 shares during the quarter. SteelPeak Wealth LLC’s holdings in Simon Property Group were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aptus Capital Advisors LLC increased its position in 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 acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares in the last quarter. Carnegie Investment Counsel raised its position in Simon Property Group by 4.3% in the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 65 shares during the last quarter. UMB Bank n.a. lifted its holdings in Simon Property Group by 2.8% during the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 66 shares in the last quarter. Finally, Groupama Asset Managment boosted its position in Simon Property Group by 0.9% in the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPG shares. 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 research note on Thursday, January 2nd. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $172.10.

Simon Property Group Trading Down 1.0 %

Shares of NYSE SPG opened at $173.86 on Thursday. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month high of $186.00. The stock has a market cap of $56.73 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 9.26 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company’s fifty day moving average is $176.49 and its 200-day moving average is $169.30.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $3.20 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This is a positive change 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%. Simon Property Group’s payout ratio is currently 111.85%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.