Slagle Financial LLC Purchases 1,145 Shares of Simon Property Group, Inc. (NYSE:SPG)

Slagle Financial LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,767 shares of the real estate investment trust’s stock after buying an additional 1,145 shares during the period. Slagle Financial LLC’s holdings in Simon Property Group were worth $2,199,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Orion Portfolio Solutions LLC boosted its stake in shares of Simon Property Group by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,526 shares of the real estate investment trust’s stock worth $1,813,000 after acquiring an additional 387 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Simon Property Group by 3.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 505,408 shares of the real estate investment trust’s stock worth $87,036,000 after purchasing an additional 18,326 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $24,440,000. Norges Bank bought a new position in Simon Property Group in the 4th quarter worth approximately $2,059,505,000. Finally, Blair William & Co. IL raised its position in shares of Simon Property Group by 6.0% during the fourth quarter. Blair William & Co. IL now owns 21,188 shares of the real estate investment trust’s stock valued at $3,649,000 after buying an additional 1,202 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPG. Deutsche Bank Aktiengesellschaft started 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 for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on 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 purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Trading Down 1.5 %

SPG stock opened at $165.91 on Friday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm’s fifty day simple moving average is $175.62 and its two-hundred day simple moving average is $174.36.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 5.06%. Simon Property Group’s payout ratio is 115.70%.

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.