Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Burney Co.

Burney Co. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,251 shares of the real estate investment trust’s stock after acquiring an additional 674 shares during the quarter. Burney Co.’s holdings in Simon Property Group were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SPG. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank grew its position in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC increased its stake in shares of Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares during the period. TTP Investments Inc. raised its holdings in Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were purchased 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. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by insiders.

Simon Property Group Trading Up 0.9 %

SPG opened at $174.28 on Friday. The firm has a market cap of $56.86 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The business’s 50 day moving average is $177.28 and its two-hundred day moving average is $167.50. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPGGet Free Report) last announced its 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 net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm earned $3.20 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Simon Property Group, Inc. will post 12.74 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPG shares. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated 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 raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $172.10.

Get Our Latest Stock Report on Simon Property Group

Simon Property Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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