1,163 Shares in Simon Property Group, Inc. (NYSE:SPG) Bought by Black Diamond Financial LLC

Black Diamond Financial LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,163 shares of the real estate investment trust’s stock, valued at approximately $200,000.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Simon Property Group in the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the 4th quarter worth $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group in the 4th quarter worth $41,000. Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth $41,000. Finally, Eastern Bank bought a new position in Simon Property Group in the 3rd quarter worth $42,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $175.10.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $183.86 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm’s 50-day simple moving average is $176.37 and its 200-day simple moving average is $172.86. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The firm has a market cap of $59.99 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.