Lodestone Wealth Management LLC Has $3.33 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Lodestone Wealth Management LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,335 shares of the real estate investment trust’s stock after selling 268 shares during the period. Simon Property Group makes up 1.7% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Lodestone Wealth Management LLC’s holdings in Simon Property Group were worth $3,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Simon Property Group during the third quarter worth about $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group during the fourth quarter worth about $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the fourth quarter worth about $41,000. Eastern Bank bought a new position in Simon Property Group during the third quarter worth about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

NYSE SPG opened at $185.12 on Friday. The company has a market capitalization of $60.40 billion, a P/E ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74. The company has a fifty day moving average of $175.69 and a 200-day moving average of $171.22. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.54%. Simon Property Group’s payout ratio is 115.70%.

Simon Property Group Company 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.