Simon Property Group, Inc. (NYSE:SPG) Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,408 shares of the real estate investment trust’s stock after acquiring an additional 1,198 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Simon Property Group were worth $1,276,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. Wilmington Savings Fund Society FSB acquired a new stake in Simon Property Group in the third quarter worth about $834,000. First Hawaiian Bank lifted its holdings in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 1,372 shares during the period. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 421 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Simon Property Group in the fourth quarter worth about $416,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho upped their price target on shares of 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 began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Price Performance

NYSE SPG opened at $165.32 on Tuesday. The stock’s 50-day moving average price is $177.92 and its two-hundred day moving average price is $174.62. 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 has a market cap of $53.94 billion, a PE ratio of 22.77, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14.

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

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.08%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.

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.