Oliver Luxxe Assets LLC Acquires 221 Shares of Simon Property Group, Inc. (NYSE:SPG)

Oliver Luxxe Assets LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,104 shares of the real estate investment trust’s stock after purchasing an additional 221 shares during the quarter. Simon Property Group accounts for about 1.0% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 25th largest position. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $5,873,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SPG. TD Asset Management Inc lifted its holdings in shares of Simon Property Group by 1.4% in the 2nd quarter. TD Asset Management Inc now owns 124,335 shares of the real estate investment trust’s stock valued at $18,874,000 after acquiring an additional 1,692 shares during the last quarter. New York Life Investment Management LLC grew its stake in Simon Property Group by 1.0% in the second quarter. New York Life Investment Management LLC now owns 49,549 shares of the real estate investment trust’s stock valued at $7,522,000 after purchasing an additional 484 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Simon Property Group by 34.3% during the second quarter. Private Advisor Group LLC now owns 31,862 shares of the real estate investment trust’s stock worth $4,837,000 after purchasing an additional 8,132 shares in the last quarter. Candriam S.C.A. increased its position in Simon Property Group by 238.7% during the 2nd quarter. Candriam S.C.A. now owns 70,673 shares of the real estate investment trust’s stock valued at $10,728,000 after buying an additional 49,806 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Simon Property Group by 5,778.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after purchasing an additional 261,430 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average price target of $172.10.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Down 0.9 %

Shares of NYSE SPG traded down $1.50 during midday trading on Monday, hitting $174.57. The stock had a trading volume of 1,033,082 shares, compared to its average volume of 988,013. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a fifty day moving average price of $177.07 and a 200 day moving average price of $166.20. The company has a market capitalization of $56.96 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $3.20 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

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.