Simon Property Group, Inc. (NYSE:SPG) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 18.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,153 shares of the real estate investment trust’s stock after acquiring an additional 1,446 shares during the quarter. SteelPeak Wealth LLC’s holdings in Simon Property Group were worth $1,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the 3rd quarter worth about $30,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Simon Property Group in the third quarter worth approximately $42,000. Eastern Bank acquired a new stake in shares of Simon Property Group during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter valued at approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $70,000 after purchasing an additional 214 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Down 1.0 %

NYSE:SPG opened at $173.86 on Thursday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $56.73 billion, a P/E ratio of 23.15, a P/E/G ratio of 9.26 and a beta of 1.75. The stock’s 50 day moving average price is $176.49 and its 200 day moving average price is $169.30. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last released 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). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.20 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business 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 represents a $8.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group raised 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 note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.10.

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.