HB Wealth Management LLC Has $1.01 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

HB Wealth Management LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,851 shares of the real estate investment trust’s stock after purchasing an additional 718 shares during the quarter. HB Wealth Management LLC’s holdings in Simon Property Group were worth $1,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $834,000. First Hawaiian Bank raised 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 purchasing an additional 1,372 shares during the last quarter. Red Cedar Investment Management LLC lifted its position 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 valued at $2,973,000 after purchasing an additional 10,644 shares during the period. TTP Investments Inc. boosted its stake in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of 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 during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired 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 owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 8.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPG. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Stock Performance

Shares of SPG stock opened at $175.88 on Wednesday. The company has a market capitalization of $57.39 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 9.33 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 company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The company’s 50 day moving average price is $177.05 and its two-hundred day moving average price is $168.15.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.20 earnings per share. On average, analysts expect that Simon Property Group, Inc. will post 12.72 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 issued a dividend of $2.10 per share. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.78%. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

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.