Marcum Wealth LLC Invests $203,000 in Simon Property Group, Inc. (NYSE:SPG)

Marcum Wealth LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,180 shares of the real estate investment trust’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SPG. Aptus Capital Advisors LLC raised its position in Simon Property Group by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Simon Property Group by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Simon Property Group by 0.9% in the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after purchasing an additional 67 shares during the period. Bleakley Financial Group LLC lifted 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 purchasing an additional 68 shares during the last quarter. Finally, Avestar Capital LLC grew its holdings in Simon Property Group by 2.8% during the third quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. 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 for the company. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Down 1.0 %

NYSE SPG opened at $171.87 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market cap of $56.08 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 10.50 and a beta of 1.75. The company has a 50 day moving average of $177.38 and a 200-day moving average of $167.43. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year 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 company 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%. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.20 earnings per share. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.76 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. Investors of record on Monday, December 9th were given a dividend of $2.10 per share. 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. This represents a $8.40 annualized dividend and a yield of 4.89%. Simon Property Group’s dividend payout ratio is currently 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.