Asset Planning Inc Takes $437,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Asset Planning Inc purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,535 shares of the real estate investment trust’s stock, valued at approximately $437,000.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $30,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $41,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $41,000. Eastern Bank bought a new stake in shares of Simon Property Group in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $45,000. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPG shares. Piper Sandler upgraded shares of 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Mizuho lifted 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 report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Trading Up 1.3 %

NYSE:SPG opened at $186.24 on Friday. The company has a market capitalization of $60.76 billion, a P/E ratio of 25.65, a PEG ratio of 9.58 and a beta of 1.74. 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, Inc. has a 12 month low of $139.25 and a 12 month high of $187.10. The firm has a fifty day simple moving average of $175.60 and a 200-day simple moving average of $171.12.

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

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 4.51%. Simon Property Group’s payout ratio is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

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.