Atala Financial Inc Buys New Stake in Simon Property Group, Inc. (NYSE:SPG)

Atala Financial Inc bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel.com reports. The firm bought 821 shares of the real estate investment trust’s stock, valued at approximately $141,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the 4th quarter worth $28,000. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter worth $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the 4th quarter worth $41,000. Finally, Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter worth $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase 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 Price Performance

Shares of NYSE:SPG opened at $161.13 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The firm has a 50-day simple moving average of $177.03 and a 200 day simple moving average of $174.39. The company has a market cap of $52.57 billion, a PE ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last announced 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 net margin of 41.49% and a return on equity of 74.02%. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $180.33.

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.