Diversify Advisory Services LLC Makes New $263,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Diversify Advisory Services LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,537 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SPG. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the 3rd quarter valued at about $30,000. Trivant Custom Portfolio Group LLC acquired a new position in Simon Property Group in the third quarter valued at approximately $42,000. Eastern Bank bought a new position in shares of Simon Property Group during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 worth $70,000 after purchasing an additional 214 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPG. Mizuho increased their target price on 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 cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.10.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $172.90 on Thursday. The stock’s 50 day moving average price is $177.00 and its 200 day moving average price is $168.36. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $56.41 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 9.33 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data 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). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction 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 completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

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.