Private Advisor Group LLC Buys 1,959 Shares of Simon Property Group, Inc. (NYSE:SPG)

Private Advisor Group LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,092 shares of the real estate investment trust’s stock after acquiring an additional 1,959 shares during the quarter. Private Advisor Group LLC’s holdings in Simon Property Group were worth $5,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the third quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $41,000. Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the fourth quarter valued at about $41,000. Eastern Bank purchased a new position in Simon Property Group in the third quarter valued at about $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Simon Property Group in the fourth quarter valued at about $45,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $175.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $183.86 on Friday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13. 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 stock has a market capitalization of $59.99 billion, a PE ratio of 25.32, a P/E/G ratio of 10.10 and a beta of 1.74. The company’s 50 day simple moving average is $176.37 and its two-hundred day simple moving average is $172.72.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 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.