Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,422 shares of the real estate investment trust’s stock after purchasing an additional 163 shares during the quarter. Meridian Wealth Management LLC’s holdings in Simon Property Group were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Simon Property Group by 373.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after acquiring an additional 993,694 shares in the last quarter. Hamlin Capital Management LLC acquired a new position in shares of Simon Property Group in the fourth quarter worth about $109,403,000. Mizuho Securities USA LLC lifted its stake in shares of Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after acquiring an additional 633,072 shares in the last quarter. Finally, KBC Group NV raised its stake in Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded 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 research note on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Simon Property Group Stock Down 0.1 %

Shares of Simon Property Group stock opened at $183.49 on Thursday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The business’s 50 day simple moving average is $178.03 and its 200-day simple moving average is $174.32. The stock has a market capitalization of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced 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. This represents a $8.40 annualized dividend and a yield of 4.58%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 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.