Cascade Financial Partners LLC Invests $215,000 in Simon Property Group, Inc. (NYSE:SPG)

Cascade Financial Partners LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,248 shares of the real estate investment trust’s stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. AGF Management Ltd. boosted its stake in shares of Simon Property Group by 6.5% in the 4th quarter. AGF Management Ltd. now owns 12,500 shares of the real estate investment trust’s stock valued at $2,153,000 after purchasing an additional 760 shares in the last quarter. GC Wealth Management RIA LLC boosted its position in Simon Property Group by 19.3% in the fourth quarter. GC Wealth Management RIA LLC now owns 7,408 shares of the real estate investment trust’s stock valued at $1,276,000 after buying an additional 1,198 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in Simon Property Group by 6.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 3,452 shares of the real estate investment trust’s stock worth $594,000 after buying an additional 205 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Simon Property Group by 4.0% during the fourth quarter. Independent Advisor Alliance now owns 69,454 shares of the real estate investment trust’s stock worth $11,961,000 after buying an additional 2,661 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Simon Property Group by 37.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 291,463 shares of the real estate investment trust’s stock valued at $50,193,000 after acquiring an additional 79,779 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPG has been the subject of a number of recent analyst reports. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Stock Performance

Simon Property Group stock opened at $165.95 on Thursday. The company has a market cap of $54.15 billion, a PE ratio of 22.86, 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 1 year low of $139.25 and a 1 year high of $190.14. The company’s 50-day moving average is $177.62 and its two-hundred day moving average is $174.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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 5.06%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was 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 of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.