Summit Global Investments Raises Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Summit Global Investments increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,860 shares of the real estate investment trust’s stock after purchasing an additional 182 shares during the period. Summit Global Investments’ holdings in Simon Property Group were worth $3,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Childress Capital Advisors LLC boosted its stake in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 58 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Simon Property Group by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Simon Property Group by 2.8% during the fourth quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 66 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed 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. Finally, Jefferies Financial Group upgraded shares of 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 research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.33.

Simon Property Group Trading Down 1.4 %

NYSE:SPG opened at $162.12 on Friday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The firm has a fifty day simple moving average of $176.11 and a 200-day simple moving average of $174.30. 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 company has a market capitalization of $52.90 billion, a P/E ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business 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 dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.18%. Simon Property Group’s payout ratio is currently 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average cost 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 $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.60% 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.