Naviter Wealth LLC Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

Naviter Wealth LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,140 shares of the real estate investment trust’s stock after buying an additional 1,286 shares during the quarter. Naviter Wealth LLC’s holdings in Simon Property Group were worth $3,985,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock worth $626,419,000 after purchasing an additional 64,418 shares during the period. 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 3rd 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 during the period. Smead Capital Management Inc. increased its holdings in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after buying an additional 88,378 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after buying an additional 25,519 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock worth $236,995,000 after buying an additional 98,366 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was 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. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $170.97 on Friday. The firm’s 50 day moving average is $178.03 and its two-hundred day moving average is $174.40. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The firm has a market capitalization of $55.78 billion, a P/E ratio of 23.55, 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 (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. 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 4.91%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average 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.