SVB Wealth LLC Acquires Shares of 3,681 Simon Property Group, Inc. (NYSE:SPG)

SVB Wealth LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,681 shares of the real estate investment trust’s stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Farther Finance Advisors LLC boosted its holdings in shares of Simon Property Group by 46.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 883 shares during the period. Optas LLC boosted its holdings in shares of Simon Property Group by 31.9% during the 3rd quarter. Optas LLC now owns 1,765 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 427 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Simon Property Group by 11.7% during the 3rd quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock worth $26,649,000 after buying an additional 16,032 shares during the period. BSW Wealth Partners bought a new stake in shares of Simon Property Group during the 3rd quarter worth about $248,000. Finally, Intact Investment Management Inc. acquired a new position in Simon Property Group in the 3rd quarter valued at $74,000. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 0.8 %

SPG stock opened at $187.60 on Tuesday. The company has a market cap of $61.21 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The business has a 50-day simple moving average of $177.63 and a 200 day simple moving average of $174.07. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research reports. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped 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. 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, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

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.