Alpha Cubed Investments LLC Buys 305 Shares of Simon Property Group, Inc. (NYSE:SPG)

Alpha Cubed Investments LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,551 shares of the real estate investment trust’s stock after purchasing an additional 305 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the third quarter valued at about $42,000. Eastern Bank purchased a new position in shares of Simon Property Group in the third quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Simon Property Group by 107.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $172.10.

Insiders Place Their Bets

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 purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $174.28 on Tuesday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The business has a 50 day simple moving average of $177.05 and a two-hundred day simple moving average of $168.15. The stock has a market capitalization of $56.86 billion, a P/E ratio of 23.21, a PEG ratio of 9.33 and a beta of 1.75. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.20 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. Simon Property Group’s dividend payout ratio is 111.85%.

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.