Lake Street Advisors Group LLC Has $3.36 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Lake Street Advisors Group LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 181.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,517 shares of the real estate investment trust’s stock after purchasing an additional 12,590 shares during the period. Lake Street Advisors Group LLC’s holdings in Simon Property Group were worth $3,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group in the 3rd quarter worth about $30,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the 4th quarter valued at about $41,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPG. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted 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 issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Price Performance

SPG stock opened at $183.69 on Wednesday. The stock has a market cap of $59.93 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 10.10 and a beta of 1.74. 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 company has a 50 day simple moving average of $176.50 and a 200 day simple moving average of $173.25. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $188.13.

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 (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%. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought 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 in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.50% of the company’s stock.

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.