Kovack Advisors Inc. Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Kovack Advisors Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,568 shares of the real estate investment trust’s stock after purchasing an additional 160 shares during the quarter. Kovack Advisors Inc.’s holdings in Simon Property Group were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter valued at $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter valued at $41,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $41,000. Finally, Golden State Wealth Management LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPG shares. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.44.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 1.9 %

NYSE SPG opened at $186.13 on Friday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.13. The company has a 50-day simple moving average of $177.31 and a 200-day simple moving average of $173.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market capitalization of $60.73 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 10.10 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 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.