Frank Rimerman Advisors LLC Buys 207 Shares of Simon Property Group, Inc. (NYSE:SPG)

Frank Rimerman Advisors LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,031 shares of the real estate investment trust’s stock after purchasing an additional 207 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Simon Property Group were worth $1,383,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SPG. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its holdings in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Simon Property Group in the fourth quarter valued at $41,000. Finally, Synergy Asset Management LLC bought a new position in Simon Property Group in the fourth quarter worth $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $161.13 on Friday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a market capitalization of $52.57 billion, a PE ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock’s fifty day moving average is $177.03 and its 200-day moving average is $174.43.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SPG shares. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised 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 note on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned 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 $180.33.

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.