SVB Wealth LLC Invests $634,000 in Simon Property Group, Inc. (NYSE:SPG)

SVB Wealth LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,681 shares of the real estate investment trust’s stock, valued at approximately $634,000.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the 3rd quarter valued at $30,000. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $45,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of several research analyst reports. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Stock Performance

Shares of SPG opened at $187.60 on Tuesday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The firm has a fifty day simple moving average of $177.63 and a 200 day simple moving average of $174.07. The stock has a market capitalization of $61.21 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 10.10 and a beta of 1.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

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, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

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 paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.48%. Simon Property Group’s dividend 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.