NewEdge Wealth LLC Raises Position in Simon Property Group, Inc. (NYSE:SPG)

NewEdge Wealth LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,647 shares of the real estate investment trust’s stock after buying an additional 1,320 shares during the period. NewEdge Wealth LLC’s holdings in Simon Property Group were worth $1,661,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares during the last quarter. Hamlin Capital Management LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at $109,403,000. Mizuho Securities USA LLC lifted its position in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after acquiring an additional 554,605 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Simon Property Group Trading Up 1.9 %

Simon Property Group stock opened at $186.13 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The stock has a market cap of $60.73 billion, a P/E ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. The firm’s fifty day moving average price is $177.31 and its 200-day moving average price is $173.74.

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

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

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 stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by 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.