Asset Planning Inc Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Asset Planning Inc acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,535 shares of the real estate investment trust’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also modified their holdings of SPG. Creative Planning lifted its holdings in shares of Simon Property Group by 4.9% in the 3rd quarter. Creative Planning now owns 79,678 shares of the real estate investment trust’s stock valued at $13,467,000 after buying an additional 3,696 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $310,000. Patton Fund Management Inc. acquired a new position in Simon Property Group in the 3rd quarter worth about $6,529,000. Bleakley Financial Group LLC raised its holdings in Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares during the period. Finally, Trust Co. of Vermont raised its holdings in Simon Property Group by 2.9% in the 3rd quarter. Trust Co. of Vermont now owns 4,080 shares of the real estate investment trust’s stock worth $690,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPG. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $175.10.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $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 link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $186.24 on Friday. The business has a 50 day simple moving average of $175.60 and a two-hundred day simple moving average of $171.12. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $187.10. The stock has a market capitalization of $60.76 billion, a P/E ratio of 25.65, a PEG ratio of 9.58 and a beta of 1.74. 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 posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.51%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.