Van ECK Associates Corp Buys 218 Shares of Simon Property Group, Inc. (NYSE:SPG)

Van ECK Associates Corp boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,532 shares of the real estate investment trust’s stock after acquiring an additional 218 shares during the quarter. Van ECK Associates Corp’s holdings in Simon Property Group were worth $26,439,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the third quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Eastern Bank bought a new position in shares of Simon Property Group during the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $45,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Stock Performance

Shares of SPG opened at $185.12 on Friday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.14. The stock has a fifty day moving average price of $175.69 and a 200-day moving average price of $171.22. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market cap of $60.40 billion, a PE ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 4.54%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by company insiders.

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.