HB Wealth Management LLC Acquires 718 Shares of Simon Property Group, Inc. (NYSE:SPG)

HB Wealth Management LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,851 shares of the real estate investment trust’s stock after buying an additional 718 shares during the quarter. HB Wealth Management LLC’s holdings in Simon Property Group were worth $1,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. Aptus Capital Advisors LLC increased its holdings in shares of Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 61 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares during the period. Carnegie Investment Counsel lifted its stake in shares of Simon Property Group by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 65 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of Simon Property Group by 0.9% in the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after buying an additional 67 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 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, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SPG shares. Mizuho boosted their target price 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. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $172.10.

Simon Property Group Price Performance

NYSE:SPG opened at $175.88 on Wednesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50-day moving average of $177.05 and a 200-day moving average of $168.15. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The company has a market capitalization of $57.39 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 9.33 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $3.20 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate 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 announced 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 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

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.