Jeppson Wealth Management LLC Has $1.67 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Jeppson Wealth Management LLC lessened its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,680 shares of the real estate investment trust’s stock after selling 250 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Simon Property Group were worth $1,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $42,000. Eastern Bank bought a new stake in shares of Simon Property Group in the 3rd quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the third quarter valued at about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Simon Property Group by 107.5% during 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 buying an additional 214 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

Simon Property Group Stock Up 1.4 %

Shares of Simon Property Group stock opened at $176.67 on Tuesday. The stock has a market cap of $57.64 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. The business has a fifty day simple moving average of $176.69 and a 200 day simple moving average of $168.92. 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, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.75%. 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. Simon Property Group’s payout ratio is presently 111.85%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction that occurred on 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 purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Company 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.