Simon Property Group, Inc. (NYSE:SPG) Shares Bought by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 236.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,196 shares of the real estate investment trust’s stock after buying an additional 840 shares during the period. SRS Capital Advisors Inc.’s holdings in Simon Property Group were worth $206,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SPG. Farther Finance Advisors LLC increased its position in Simon Property Group by 46.5% during the third quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 883 shares during the period. Van ECK Associates Corp increased its position in Simon Property Group by 11.7% during the third quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock worth $26,649,000 after buying an additional 16,032 shares during the period. Intact Investment Management Inc. acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $74,000. National Pension Service increased its holdings in shares of Simon Property Group by 12.8% in the third quarter. National Pension Service now owns 929,095 shares of the real estate investment trust’s stock valued at $157,036,000 after purchasing an additional 105,638 shares during the period. Finally, Tobias Financial Advisors Inc. increased its holdings in shares of Simon Property Group by 2.7% in the third quarter. Tobias Financial Advisors Inc. now owns 3,660 shares of the real estate investment trust’s stock valued at $619,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Down 2.4 %

Shares of SPG stock opened at $183.30 on Wednesday. The business’s fifty day moving average price is $177.83 and its 200 day moving average price is $174.25. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a market capitalization of $59.81 billion, a PE ratio of 25.25, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS 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 given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.58%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

SPG has been the topic of a number of recent research reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised 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 report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Insiders Place Their Bets

In other 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 cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $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 through this hyperlink. 8.50% of the stock is owned by company insiders.

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.