Fulcrum Capital LLC Invests $387,000 in Simon Property Group, Inc. (NYSE:SPG)

Fulcrum Capital LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,246 shares of the real estate investment trust’s stock, valued at approximately $387,000.

Several other large investors have also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the third quarter worth $42,000. Eastern Bank acquired a new stake in Simon Property Group in the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the 3rd quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG traded up $1.49 during trading on Monday, hitting $172.45. The company’s stock had a trading volume of 630,818 shares, compared to its average volume of 1,479,086. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The firm’s 50 day moving average price is $177.38 and its two-hundred day moving average price is $167.12. The stock has a market capitalization of $56.27 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $3.20 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the 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 in the company, 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 SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SPG shares. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.10.

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.