Simon Property Group, Inc. (NYSE:SPG) Holdings Lifted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 407.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,893 shares of the real estate investment trust’s stock after acquiring an additional 12,758 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Simon Property Group were worth $2,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $41,000. Eastern Bank acquired a new position in shares of Simon Property Group in the third quarter worth about $42,000. Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group in the fourth quarter worth approximately $45,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter valued at approximately $52,000. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

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

Simon Property Group Trading Up 2.1 %

NYSE:SPG opened at $184.37 on Wednesday. The company has a market capitalization of $60.16 billion, a P/E ratio of 25.40, a P/E/G ratio of 9.58 and a beta of 1.74. The stock’s 50 day moving average price is $175.48 and its 200 day moving average price is $170.80. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results 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 net margin of 41.49% and a return on equity of 74.02%. On average, research analysts forecast 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 paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.56%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $175.10.

About Simon Property Group

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.