Apollon Wealth Management LLC Has $1.51 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Apollon Wealth Management LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 30.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,746 shares of the real estate investment trust’s stock after acquiring an additional 2,045 shares during the period. Apollon Wealth Management LLC’s holdings in Simon Property Group were worth $1,506,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group during the 4th quarter worth $41,000. Eastern Bank acquired a new position in Simon Property Group in the 3rd quarter valued at $42,000. Golden State Wealth Management LLC bought a new position in Simon Property Group in the 4th quarter worth $45,000. Finally, Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the 3rd quarter worth $52,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SPG shares. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $175.10.

Simon Property Group Trading Up 0.3 %

Shares of SPG stock opened at $180.48 on Tuesday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a fifty day moving average of $175.50 and a 200-day moving average of $170.58. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $186.00. The stock has a market cap of $58.89 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.