New Age Alpha Advisors LLC Buys Shares of 141,922 Simon Property Group, Inc. (NYSE:SPG)

New Age Alpha Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 141,922 shares of the real estate investment trust’s stock, valued at approximately $24,440,000. Simon Property Group makes up about 1.0% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $28,000. WR Wealth Planners LLC grew its holdings in Simon Property Group by 328.2% in the fourth 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 during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the fourth quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent research reports. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.33.

Simon Property Group Stock Performance

NYSE:SPG opened at $165.91 on Friday. The firm has a 50-day moving average of $175.62 and a two-hundred day moving average of $174.36. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market cap of $54.13 billion, a P/E ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 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, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

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.