Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by InTrack Investment Management Inc

InTrack Investment Management Inc lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 54.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,743 shares of the real estate investment trust’s stock after purchasing an additional 1,675 shares during the quarter. InTrack Investment Management Inc’s holdings in Simon Property Group were worth $823,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC purchased a new stake in Simon Property Group in the 3rd quarter valued at $42,000. Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth $42,000. Ashton Thomas Securities LLC purchased a new position in Simon Property Group during the 3rd quarter worth $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $174.28 on Friday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The company has a market cap of $56.86 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75. The business has a fifty day moving average of $177.28 and a two-hundred day moving average of $167.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $3.20 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts predict that Simon Property Group, Inc. will post 12.74 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $172.10.

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.