Slagle Financial LLC Purchases 1,145 Shares of Simon Property Group, Inc. (NYSE:SPG)

Slagle Financial LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,767 shares of the real estate investment trust’s stock after acquiring an additional 1,145 shares during the quarter. Slagle Financial LLC’s holdings in Simon Property Group were worth $2,199,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in shares of Simon Property Group by 45.9% in the 3rd quarter. Cerity Partners LLC now owns 47,364 shares of the real estate investment trust’s stock worth $8,006,000 after purchasing an additional 14,893 shares during the period. DRW Securities LLC purchased a new stake in Simon Property Group during the third quarter worth $287,000. Townsquare Capital LLC increased its holdings in shares of Simon Property Group by 8.8% in the 3rd quarter. Townsquare Capital LLC now owns 27,125 shares of the real estate investment trust’s stock valued at $4,585,000 after acquiring an additional 2,191 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of Simon Property Group by 477.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 100,451 shares of the real estate investment trust’s stock valued at $16,978,000 after acquiring an additional 83,049 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in shares of Simon Property Group in the 3rd quarter worth $376,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Mizuho increased their price target 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. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from 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 %

SPG stock opened at $165.91 on Friday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. 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 firm has a 50-day moving average of $175.62 and a two-hundred day moving average of $174.36. The company 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.

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 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 forecast that Simon Property Group, Inc. will post 12.54 earnings per share 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. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. 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.