Jamison Private Wealth Management Inc. Raises Stake in Simon Property Group, Inc. (NYSE:SPG)

Jamison Private Wealth Management Inc. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 22.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,377 shares of the real estate investment trust’s stock after acquiring an additional 2,478 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Simon Property Group were worth $2,304,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Renaissance Technologies LLC acquired a new position in Simon Property Group in the second quarter valued at $364,000. Evergreen Capital Management LLC raised its position in shares of Simon Property Group by 9.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,074 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 181 shares during the period. APG Asset Management N.V. raised its position in Simon Property Group by 424.9% in the second quarter. APG Asset Management N.V. now owns 69,129 shares of the real estate investment trust’s stock valued at $9,791,000 after purchasing an additional 55,960 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Simon Property Group during the second quarter worth about $414,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Simon Property Group by 171.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 237,096 shares of the real estate investment trust’s stock worth $35,991,000 after buying an additional 149,739 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $174.42 on Friday. The stock has a market capitalization of $56.91 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. The business’s fifty day moving average price is $176.69 and its 200 day moving average price is $168.63. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.20 earnings per share. Equities research analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $172.10.

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.