Robertson Stephens Wealth Management LLC Purchases 224 Shares of Simon Property Group, Inc. (NYSE:SPG)

Robertson Stephens Wealth Management LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,799 shares of the real estate investment trust’s stock after purchasing an additional 224 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Simon Property Group were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group in the third quarter worth about $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $41,000. Eastern Bank bought a new position in shares of Simon Property Group in the third quarter worth about $42,000. Ashton Thomas Securities LLC bought a new position in shares of Simon Property Group in the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 214 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $180.01 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $186.00. The company has a 50 day simple moving average of $175.57 and a two-hundred day simple moving average of $170.19. The stock has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced 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 net margin of 43.36% and a return on equity of 76.21%. As a group, analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s 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 acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

About Simon Property Group

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.