SlateStone Wealth LLC Buys 223 Shares of Simon Property Group, Inc. (NYSE:SPG)

SlateStone Wealth LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,593 shares of the real estate investment trust’s stock after acquiring an additional 223 shares during the period. SlateStone Wealth LLC’s holdings in Simon Property Group were worth $274,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC increased its stake in shares of 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 valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at $41,000. Institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased 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 in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Finally, 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 objective on the stock. Six 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 an average price target of $180.33.

Simon Property Group Stock Up 1.0 %

Shares of SPG opened at $161.13 on Monday. The company has a market capitalization of $52.57 billion, a PE ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The stock’s 50-day moving average price is $177.03 and its two-hundred day moving average price is $174.48. 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 announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.