Leo Wealth LLC Has $284,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Leo Wealth LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,820 shares of the real estate investment trust’s stock after purchasing an additional 159 shares during the period. Leo Wealth LLC’s holdings in Simon Property Group were worth $284,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Simon Property Group during the 4th quarter valued at $2,561,181,000. International Assets Investment Management LLC grew its stake in Simon Property Group by 13,226.4% in the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after purchasing an additional 913,678 shares in the last quarter. Panagora Asset Management Inc. increased its position in Simon Property Group by 11,722.9% in the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after purchasing an additional 667,034 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Simon Property Group by 160.1% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after purchasing an additional 469,855 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Simon Property Group by 134.3% during the 4th quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock worth $80,424,000 after purchasing an additional 323,168 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $0.34 during trading hours on Friday, hitting $153.45. 847,249 shares of the stock were exchanged, compared to its average volume of 1,472,932. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $158.19. The company’s 50 day moving average is $149.11 and its 200 day moving average is $147.25. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $50.02 billion, a P/E ratio of 19.50, a P/E/G ratio of 9.21 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $2.00 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, June 7th. Simon Property Group’s payout ratio is currently 101.91%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SPG. Scotiabank boosted their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Truist Financial raised their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Finally, Argus upped their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.89.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.