28,424 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Entropy Technologies LP

Entropy Technologies LP bought a new position in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,424 shares of the real estate investment trust’s stock, valued at approximately $4,895,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB increased its holdings in Simon Property Group by 38.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,827 shares of the real estate investment trust’s stock worth $1,176,000 after acquiring an additional 1,895 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Simon Property Group by 30.5% in the 4th quarter. Apollon Wealth Management LLC now owns 8,746 shares of the real estate investment trust’s stock worth $1,506,000 after purchasing an additional 2,045 shares during the period. Clientfirst Wealth Management LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $274,000. Joel Isaacson & Co. LLC boosted its stake in Simon Property Group by 17.1% in the 4th quarter. Joel Isaacson & Co. LLC now owns 3,978 shares of the real estate investment trust’s stock worth $685,000 after purchasing an additional 582 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SPG shares. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Mizuho increased 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. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Price Performance

Shares of SPG stock opened at $180.01 on Friday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $186.00. The stock’s 50-day moving average is $175.50 and its 200 day moving average is $170.34. The company has a market cap of $58.73 billion, a P/E ratio of 24.79, a PEG ratio of 9.58 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 issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. Simon Property Group’s payout ratio is 115.70%.

About Simon Property Group

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.