Sargent Investment Group LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Sargent Investment Group LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,430 shares of the real estate investment trust’s stock, valued at approximately $420,000.

Several other large investors also recently made changes to their positions in the stock. E. Ohman J or Asset Management AB increased its position in Simon Property Group by 15.7% during the 4th quarter. E. Ohman J or Asset Management AB now owns 14,700 shares of the real estate investment trust’s stock worth $2,531,000 after buying an additional 2,000 shares during the period. Brown Lisle Cummings Inc. increased its position in Simon Property Group by 12.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 2,628 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 300 shares during the period. Longboard Asset Management LP bought a new position in Simon Property Group during the 4th quarter worth $219,000. abrdn plc increased its position in Simon Property Group by 17.1% during 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. Finally, Childress Capital Advisors LLC increased its position in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group upgraded 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 research report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday. Finally, Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $175.10.

Simon Property Group Stock Performance

NYSE:SPG opened at $179.02 on Thursday. The stock has a market cap of $58.41 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock’s 50-day moving average is $175.74 and its 200-day moving average is $170.06. Simon Property Group, Inc. has a 1-year low of $137.25 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is presently 111.85%.

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.