7,750 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, HoldingsChannel reports. The fund bought 7,750 shares of the real estate investment trust’s stock, valued at approximately $1,335,000. Simon Property Group makes up about 1.3% of Chung Wu Investment Group LLC’s holdings, making the stock its 19th largest holding.

Other hedge funds also recently bought and sold shares of the company. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the fourth quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the third quarter worth approximately $30,000. Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the 4th quarter worth approximately $41,000. Finally, Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Simon Property Group has an average rating of “Moderate Buy” and a consensus target price of $178.44.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $183.49 on Thursday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The firm has a market cap of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a fifty day simple moving average of $178.03 and a 200 day simple moving average of $174.32.

Simon Property Group (NYSE:SPG) last released its quarterly 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 return on equity of 74.02% and a net margin of 41.49%. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS 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. Investors 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 dividend yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.