Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,442 shares of the real estate investment trust’s stock after purchasing an additional 90 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Simon Property Group were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $41,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the 4th quarter valued at $41,000. Eastern Bank acquired a new stake in Simon Property Group in the 3rd quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SPG. Mizuho lifted their price target 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. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Stock Down 0.6 %

Shares of SPG opened at $185.12 on Friday. The firm has a market cap of $60.40 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.14. The company’s 50-day moving average price is $175.69 and its 200 day moving average price is $171.22. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

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.