Larson Financial Group LLC Has $655,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

Larson Financial Group LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,806 shares of the real estate investment trust’s stock after buying an additional 303 shares during the quarter. Larson Financial Group LLC’s holdings in Simon Property Group were worth $655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SPG. WR Wealth Planners LLC grew its position in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the fourth quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group during the fourth quarter worth $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SPG shares. Mizuho boosted their price target 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. Jefferies Financial Group raised 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 research report on Thursday, January 2nd. 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 price target on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Trading Down 2.0 %

Shares of SPG stock opened at $170.97 on Monday. The firm has a market capitalization of $55.78 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm’s fifty day simple moving average is $178.03 and its 200 day simple moving average is $174.60. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

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 (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, 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.