Ritholtz Wealth Management Has $1.91 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Ritholtz Wealth Management raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,068 shares of the real estate investment trust’s stock after purchasing an additional 1,217 shares during the quarter. Ritholtz Wealth Management’s holdings in Simon Property Group were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group in the 3rd quarter worth approximately $834,000. First Hawaiian Bank lifted its holdings in Simon Property Group by 35.0% during the 4th 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 lifted its holdings in Simon Property Group by 153.2% during the 3rd 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 in the last quarter. TTP Investments Inc. lifted its holdings in Simon Property Group by 42.0% during the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after buying an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $174.28 on Friday. 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, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a fifty day simple moving average of $177.19 and a 200 day simple moving average of $167.69. The stock has a market cap of $56.86 billion, a P/E ratio of 23.21, a P/E/G ratio of 9.16 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.20 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.74 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

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

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.