Concurrent Investment Advisors LLC Buys 15,325 Shares of Simon Property Group, Inc. (NYSE:SPG)

Concurrent Investment Advisors LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 49.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,212 shares of the real estate investment trust’s stock after buying an additional 15,325 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Simon Property Group were worth $7,958,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Childress Capital Advisors LLC grew its stake in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Simon Property Group by 3.9% in the third 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. Bleakley Financial Group LLC grew its stake in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 62 shares in the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of Simon Property Group by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPG shares. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho upped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $175.10.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

Simon Property Group Stock Down 0.1 %

SPG stock opened at $185.88 on Thursday. The stock has a market capitalization of $60.65 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 10.06 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The firm has a 50-day moving average price of $176.10 and a 200-day moving average price of $172.25.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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 issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.52%. Simon Property Group’s dividend payout ratio (DPR) is presently 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.