Leo Wealth LLC Has $244,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

Leo Wealth LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,418 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Leo Wealth LLC’s holdings in Simon Property Group were worth $244,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. State of Alaska Department of Revenue grew its holdings in Simon Property Group by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 191,820 shares of the real estate investment trust’s stock worth $33,031,000 after buying an additional 1,634 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 62 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Simon Property Group by 8.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 2,799 shares of the real estate investment trust’s stock worth $482,000 after acquiring an additional 224 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Simon Property Group by 23.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,721 shares of the real estate investment trust’s stock worth $9,047,000 after acquiring an additional 10,113 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Simon Property Group by 8.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,723 shares of the real estate investment trust’s stock valued at $469,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $180.01 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a fifty day simple moving average of $175.57 and a two-hundred day simple moving average of $170.19. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $186.00. The firm has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. Simon Property Group’s payout ratio is 111.85%.

Analyst Ratings Changes

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

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.