1,661 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Leo Wealth LLC

Leo Wealth LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,661 shares of the real estate investment trust’s stock, valued at approximately $238,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Spartan Planning & Wealth Management increased its holdings in Simon Property Group by 13,900.0% during the fourth quarter. Spartan Planning & Wealth Management now owns 420 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 417 shares during the last quarter. Trust Co. of Vermont boosted its position in Simon Property Group by 27.8% during the fourth quarter. Trust Co. of Vermont now owns 3,966 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 863 shares during the period. Wellington Management Group LLP boosted its position in Simon Property Group by 61.5% during the fourth quarter. Wellington Management Group LLP now owns 490,187 shares of the real estate investment trust’s stock worth $69,920,000 after purchasing an additional 186,740 shares during the period. CCM Investment Advisers LLC bought a new position in Simon Property Group during the fourth quarter worth $2,023,000. Finally, American International Group Inc. boosted its position in Simon Property Group by 0.5% during the fourth quarter. American International Group Inc. now owns 87,594 shares of the real estate investment trust’s stock worth $12,494,000 after purchasing an additional 405 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.8 %

Shares of NYSE SPG opened at $147.67 on Tuesday. The stock has a 50-day moving average price of $146.79 and a two-hundred day moving average price of $145.79. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $157.82. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The company has a market cap of $48.13 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 8.85 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $2.74 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts forecast that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $8.00 annualized dividend and a dividend yield of 5.42%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research analyst reports. Evercore ISI lifted their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Scotiabank boosted their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Argus boosted their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial boosted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley boosted their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.