one8zero8 LLC Takes $1.53 Million Position in Simon Property Group, Inc. (NYSE:SPG)

one8zero8 LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 8,868 shares of the real estate investment trust’s stock, valued at approximately $1,527,000.

A number of other hedge funds have also recently made changes to their positions in the business. Natixis Advisors LLC grew its holdings in shares of Simon Property Group by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 197,248 shares of the real estate investment trust’s stock valued at $33,968,000 after buying an additional 11,293 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Simon Property Group by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,031 shares of the real estate investment trust’s stock valued at $1,383,000 after buying an additional 207 shares during the last quarter. Alpine Woods Capital Investors LLC grew its holdings in shares of Simon Property Group by 6.3% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 9,981 shares of the real estate investment trust’s stock valued at $1,719,000 after buying an additional 594 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $141,000. Finally, Balboa Wealth Partners grew its holdings in shares of Simon Property Group by 9.9% during the fourth quarter. Balboa Wealth Partners now owns 1,339 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 121 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Stock Up 1.0 %

SPG opened at $161.13 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $52.57 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The company’s 50-day moving average price is $177.03 and its two-hundred day moving average price is $174.43.

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 analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

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.