Elo Mutual Pension Insurance Co Buys 3,702 Shares of Simon Property Group, Inc. (NYSE:SPG)

Elo Mutual Pension Insurance Co boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,474 shares of the real estate investment trust’s stock after purchasing an additional 3,702 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Simon Property Group were worth $5,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the 4th quarter valued at about $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group during the 4th quarter valued at about $30,000. TCTC Holdings LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $41,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPG. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho increased their target price 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. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.33.

Simon Property Group Stock Down 1.5 %

NYSE:SPG opened at $165.91 on Friday. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. 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 has a 50-day moving average price of $175.62 and a two-hundred day moving average price of $174.36. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a yield of 5.06%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated 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 trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.