Quantbot Technologies LP Buys Shares of 9,627 Simon Property Group, Inc. (NYSE:SPG)

Quantbot Technologies LP bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,627 shares of the real estate investment trust’s stock, valued at approximately $1,658,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC increased its holdings in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $30,000. TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group during the 4th quarter worth approximately $41,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $166.36 on Tuesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a 50 day moving average price of $175.98 and a 200 day moving average price of $174.45. The stock has a market capitalization of $54.28 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14.

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 (EPS) 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%. 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. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. Simon Property Group’s payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPG. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.33.

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.