Brown Lisle Cummings Inc. Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

Brown Lisle Cummings Inc. lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,628 shares of the real estate investment trust’s stock after acquiring an additional 300 shares during the period. Brown Lisle Cummings Inc.’s holdings in Simon Property Group were worth $453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Longboard Asset Management LP bought a new position in Simon Property Group in the fourth quarter worth $219,000. abrdn plc grew its position in shares of Simon Property Group by 17.1% in the 4th quarter. abrdn plc now owns 408,851 shares of the real estate investment trust’s stock worth $69,997,000 after buying an additional 59,579 shares during the period. Childress Capital Advisors LLC increased its stake in shares of Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares in the last quarter. Lazari Capital Management Inc. lifted its position in Simon Property Group by 2.8% during the 4th quarter. Lazari Capital Management Inc. now owns 2,962 shares of the real estate investment trust’s stock valued at $510,000 after acquiring an additional 80 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in Simon Property Group by 4.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 2,236 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred 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 $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Simon Property Group Trading Down 0.2 %

Simon Property Group stock opened at $173.47 on Tuesday. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The business’s fifty day moving average is $176.08 and its 200 day moving average is $169.77. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $56.60 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business earned $3.20 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

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.