Kestra Private Wealth Services LLC Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Kestra Private Wealth Services LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 407.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,893 shares of the real estate investment trust’s stock after acquiring an additional 12,758 shares during the period. Kestra Private Wealth Services LLC’s holdings in Simon Property Group were worth $2,737,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares during the period. International Assets Investment Management LLC raised its stake in Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after acquiring an additional 887,356 shares during the last quarter. Hamlin Capital Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $109,403,000. Finally, Mizuho Securities USA LLC grew its stake in Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after purchasing an additional 633,072 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 2.1 %

Shares of NYSE:SPG opened at $184.37 on Wednesday. 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 firm has a market cap of $60.16 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 9.58 and a beta of 1.74. The stock’s 50-day moving average price is $175.48 and its two-hundred day moving average price is $170.80. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $186.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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 forecast that Simon Property Group, Inc. will post 12.54 EPS for the current 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 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 dividend yield of 4.56%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Transactions at Simon Property Group

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPG. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $175.10.

About Simon Property Group

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.