Edgemoor Investment Advisors Inc. Has $12.01 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Edgemoor Investment Advisors Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 69,743 shares of the real estate investment trust’s stock after selling 1,188 shares during the quarter. Simon Property Group accounts for about 1.1% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 23rd biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Simon Property Group were worth $12,010,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Childress Capital Advisors LLC boosted its position in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. increased its stake in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 61 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 62 shares during the period. Finally, Carnegie Investment Counsel increased its stake in shares of Simon Property Group by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $161.13 on Monday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock’s fifty day simple moving average is $177.03 and its two-hundred day simple moving average is $174.48. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The stock has a market cap of $52.57 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate 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 forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm 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 dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.21%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $180.33.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

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.