Simon Property Group, Inc. (NYSE:SPG) Stock Position Increased by BCGM Wealth Management LLC

BCGM Wealth Management LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,016 shares of the real estate investment trust’s stock after buying an additional 139 shares during the period. BCGM Wealth Management LLC’s holdings in Simon Property Group were worth $1,725,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group in the fourth quarter worth approximately $41,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter worth approximately $41,000. Finally, Eastern Bank bought a new position in shares of Simon Property Group in the third quarter valued at $42,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPG shares. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, 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 on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Stock Down 1.5 %

SPG opened at $183.86 on Monday. The company has a market capitalization of $59.99 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The business has a 50-day moving average of $176.37 and a 200-day moving average of $172.86.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.