Simon Property Group, Inc. (NYSE:SPG) Holdings Trimmed by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,680 shares of the real estate investment trust’s stock after selling 250 shares during the period. Jeppson Wealth Management LLC’s holdings in Simon Property Group were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter worth $30,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of Simon Property Group in the third quarter worth approximately $42,000. Eastern Bank purchased a new position in shares of Simon Property Group in the third quarter worth approximately $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter valued at approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SPG. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho increased their price target 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. 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 price objective on the stock. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.10.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This 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. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Up 1.4 %

Simon Property Group stock opened at $176.67 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00. The firm’s fifty day simple moving average is $176.69 and its 200-day simple moving average is $168.92. The company has a market capitalization of $57.64 billion, a P/E ratio of 23.53, a P/E/G ratio of 9.26 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the business earned $3.20 earnings per share. Simon Property Group’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.75%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

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.