Diversify Advisory Services LLC Acquires Shares of 1,537 Simon Property Group, Inc. (NYSE:SPG)

Diversify Advisory Services LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,537 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other large investors have also made changes to their positions in SPG. Capital Performance Advisors LLP purchased a new position in Simon Property Group during the 3rd quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group in the third quarter worth $42,000. Eastern Bank purchased a new position in shares of Simon Property Group during the third quarter valued at $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the third quarter valued at $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price 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 $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Down 1.7 %

Shares of SPG stock opened at $172.90 on Thursday. The stock’s 50 day simple moving average is $177.00 and its 200 day simple moving average is $168.36. Simon Property Group, Inc. has a twelve month low of $135.15 and a twelve month 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 has a market capitalization of $56.41 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 9.33 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.20 EPS. As a group, research analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SPG shares. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho upped 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 note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.