Ieq Capital LLC Purchases 1,729 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ieq Capital LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 10.4% during the fourth quarter, HoldingsChannel reports. The firm owned 18,313 shares of the real estate investment trust’s stock after buying an additional 1,729 shares during the period. Ieq Capital LLC’s holdings in Simon Property Group were worth $3,154,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Simon Property Group in the 3rd quarter valued at $834,000. First Hawaiian Bank boosted its stake in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC boosted its stake in shares of Simon Property Group by 153.2% in the 3rd quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after purchasing an additional 10,644 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after purchasing an additional 3,990 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed 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 objective on the stock. Mizuho boosted their target price 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. Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $175.10.

Simon Property Group Stock Performance

SPG opened at $183.86 on Friday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company’s fifty day moving average price is $176.37 and its two-hundred day moving average price is $172.72. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The company has a market cap of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

Insiders Place Their Bets

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

About Simon Property Group

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.