1,593 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Clientfirst Wealth Management LLC

Clientfirst Wealth Management LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,593 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Several other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at $30,000. Synergy Asset Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $41,000. Eastern Bank purchased a new position in shares of Simon Property Group in the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth about $45,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Simon Property Group during the third quarter worth approximately $52,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.1 %

Simon Property Group stock opened at $180.01 on Friday. The company has a market capitalization of $58.73 billion, a P/E ratio of 24.79, a PEG ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $186.00. The stock has a 50-day simple moving average of $175.57 and a 200-day simple moving average of $170.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 4.67%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a report on Wednesday. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Mizuho upped their price objective 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $175.10.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.