LPL Financial LLC Has $61.72 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

LPL Financial LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 358,414 shares of the real estate investment trust’s stock after purchasing an additional 7,087 shares during the quarter. LPL Financial LLC owned about 0.11% of Simon Property Group worth $61,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPG. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $30,000. TCTC Holdings LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $34,000. Finally, Synergy Asset Management LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $41,000. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho increased 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. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $168.44 on Thursday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market cap of $54.96 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The stock’s 50-day moving average is $175.76 and its 200-day moving average is $174.42. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

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 (EPS) 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%. Equities 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 4.99%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group Company 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.