Edgemoor Investment Advisors Inc. Has $12.01 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Edgemoor Investment Advisors Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,743 shares of the real estate investment trust’s stock after selling 1,188 shares during the quarter. Simon Property Group comprises 1.1% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 23rd largest holding. Edgemoor Investment Advisors Inc.’s holdings in Simon Property Group were worth $12,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC raised its position in Simon Property Group by 328.2% during the 4th 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 4th quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new position in Simon Property Group during the fourth quarter valued at $34,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group during the fourth quarter valued at $41,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SPG shares. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.33.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Simon Property Group stock opened at $161.13 on Monday. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. 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 firm’s fifty day moving average price is $177.03 and its 200 day moving average price is $174.48.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.21%. Simon Property Group’s dividend payout ratio is presently 115.70%.

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.