Parallel Advisors LLC Buys 650 Shares of Simon Property Group, Inc. (NYSE:SPG)

Parallel Advisors LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,704 shares of the real estate investment trust’s stock after buying an additional 650 shares during the period. Parallel Advisors LLC’s holdings in Simon Property Group were worth $982,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the 4th quarter worth about $28,000. WR Wealth Planners LLC raised its stake in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group in the 4th quarter worth about $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased at an average cost 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 $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Price Performance

SPG stock opened at $164.73 on Thursday. The company has a 50 day simple moving average of $176.50 and a 200 day simple moving average of $174.40. The stock has a market cap of $53.75 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. 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 released 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 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group upgraded shares of 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 research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.