Modera Wealth Management LLC Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Modera Wealth Management LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,621 shares of the real estate investment trust’s stock after purchasing an additional 201 shares during the quarter. Modera Wealth Management LLC’s holdings in Simon Property Group were worth $279,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPG. WR Wealth Planners LLC raised its holdings in shares of 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 valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $30,000. Capital Performance Advisors LLP purchased a new stake in Simon Property Group during the 3rd quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter worth approximately $41,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $183.49 on Thursday. The firm has a 50 day moving average of $178.03 and a 200-day moving average of $174.32. The company has a market cap of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 10.10 and a beta of 1.78. 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, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 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%. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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 issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Mizuho lifted 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. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.