Robertson Stephens Wealth Management LLC Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Robertson Stephens Wealth Management LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,799 shares of the real estate investment trust’s stock after acquiring an additional 224 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Simon Property Group were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group in the 3rd quarter worth $834,000. First Hawaiian Bank increased its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC increased its holdings in Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after acquiring an additional 10,644 shares in the last quarter. TTP Investments Inc. increased its holdings in Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Down 0.1 %

Shares of SPG stock opened at $180.01 on Friday. The company’s 50-day moving average price is $175.57 and its 200-day moving average price is $170.19. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 9.31 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.67%. Simon Property Group’s payout ratio is currently 111.85%.

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated 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 for the company. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $175.10.

About Simon Property Group

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.