Spectrum Wealth Counsel LLC Buys 242 Shares of Simon Property Group, Inc. (NYSE:SPG)

Spectrum Wealth Counsel LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,301 shares of the real estate investment trust’s stock after purchasing an additional 242 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Simon Property Group were worth $7,457,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank grew its holdings in shares of Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC grew its holdings in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 1.9 %

Shares of SPG stock opened at $186.13 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The company has a market capitalization of $60.73 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The business’s fifty day moving average is $177.31 and its 200 day moving average is $173.62.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 4.51%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Mizuho increased 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. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.44.

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.