Bradley Foster & Sargent Inc. CT Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Bradley Foster & Sargent Inc. CT increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,803 shares of the real estate investment trust’s stock after acquiring an additional 165 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Simon Property Group were worth $483,000 at the end of the most recent quarter.

Other hedge funds 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 worth approximately $30,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Simon Property Group during the 4th quarter worth $41,000. Synergy Asset Management LLC purchased a new position in shares of Simon Property Group during the 4th quarter worth $41,000. Eastern Bank purchased a new position in Simon Property Group during the third quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Simon Property Group during the fourth quarter worth about $45,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Simon Property Group Stock Performance

Shares of SPG stock opened at $183.86 on Friday. 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 firm has a 50 day moving average of $176.37 and a two-hundred day moving average of $172.72. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict 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. Investors of record on Monday, March 10th will be paid a $2.10 dividend. 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 4.57%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by insiders.

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.