New York Life Investment Management LLC Acquires 126 Shares of Simon Property Group, Inc. (NYSE:SPG)

New York Life Investment Management LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,952 shares of the real estate investment trust’s stock after buying an additional 126 shares during the quarter. New York Life Investment Management LLC’s holdings in Simon Property Group were worth $7,913,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group in the 3rd quarter worth about $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter worth about $41,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $41,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at about $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was purchased 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 directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SPG. 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 for the company. Mizuho raised their target price on 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 Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $178.44.

Simon Property Group Stock Down 0.9 %

SPG stock opened at $182.66 on Friday. The business has a 50 day moving average of $177.02 and a 200 day moving average of $173.39. The firm has a market cap of $59.60 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.60%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.