Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,551 shares of the real estate investment trust’s stock after acquiring an additional 305 shares during the period. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hamlin Capital Management LLC purchased a new stake in Simon Property Group in the fourth quarter valued at $109,403,000. Ballentine Partners LLC lifted its holdings in shares of Simon Property Group by 12.6% in the 4th quarter. Ballentine Partners LLC now owns 5,296 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 594 shares during the last quarter. UMB Bank n.a. grew its stake in Simon Property Group by 2.8% during the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 66 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Simon Property Group during the fourth quarter worth approximately $263,000. Finally, Diversify Wealth Management LLC lifted its stake in Simon Property Group by 2.5% in the fourth quarter. Diversify Wealth Management LLC now owns 3,035 shares of the real estate investment trust’s stock valued at $519,000 after buying an additional 74 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.9 %

Shares of Simon Property Group stock opened at $174.28 on Tuesday. The company has a 50-day moving average of $177.05 and a two-hundred day moving average of $168.15. The stock has a market cap of $56.86 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 9.33 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 earnings per share. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SPG shares. Jefferies Financial Group upgraded shares of 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 research note on Thursday, January 2nd. Mizuho lifted 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. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.10.

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.