Simon Property Group, Inc. (NYSE:SPG) Holdings Increased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,377 shares of the real estate investment trust’s stock after acquiring an additional 2,478 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Simon Property Group were worth $2,304,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Simon Property Group during the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at $42,000. Eastern Bank bought a new position in Simon Property Group during the third quarter valued at about $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $174.42 on Friday. The company has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock’s fifty day simple moving average is $176.69 and its 200-day simple moving average is $168.63.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.20 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $172.10.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’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 acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group 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.