Cascade Financial Partners LLC Invests $215,000 in Simon Property Group, Inc. (NYSE:SPG)

Cascade Financial Partners LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,248 shares of the real estate investment trust’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at about $834,000. First Hawaiian Bank lifted its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares during the last quarter. Versant Capital Management Inc lifted its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth $416,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 1.5 %

SPG opened at $165.95 on Thursday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The business has a 50 day moving average of $177.62 and a 200-day moving average of $174.54. The stock has a market capitalization of $54.15 billion, a price-to-earnings ratio of 22.86, a P/E/G 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.

Simon Property Group (NYSE:SPG) last issued its quarterly 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, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company 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 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 yield of 5.06%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Buying and Selling at Simon Property Group

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

Analysts Set New Price Targets

Several research firms recently issued reports on SPG. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. 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 for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded 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 report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $180.33.

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.