Modern Wealth Management LLC Takes $5.14 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Modern Wealth Management LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 28,467 shares of the real estate investment trust’s stock, valued at approximately $5,140,000.

Other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC boosted its stake in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the 4th quarter valued at $30,000. TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $34,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth about $41,000. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded 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 research report on Thursday, January 2nd. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.33.

Simon Property Group Trading Up 2.6 %

SPG opened at $166.36 on Tuesday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a 50-day moving average price of $175.98 and a two-hundred day moving average price of $174.45. The stock has a market capitalization of $54.28 billion, a PE ratio of 22.91, 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.

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

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

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.