Everhart Financial Group Inc. Buys 229 Shares of Simon Property Group, Inc. (NYSE:SPG)

Everhart Financial Group Inc. grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,558 shares of the real estate investment trust’s stock after purchasing an additional 229 shares during the quarter. Everhart Financial Group Inc.’s holdings in Simon Property Group were worth $613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the third quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $41,000. Eastern Bank purchased a new stake in shares of Simon Property Group during the third quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised 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 research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Seven research 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.com, the company currently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $185.12 on Monday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.14. The business has a fifty day moving average price of $175.72 and a 200-day moving average price of $171.56. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $60.40 billion, a P/E ratio of 25.50, a PEG ratio of 9.58 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared 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. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

About Simon Property Group

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.