Leo Wealth LLC Has $244,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Leo Wealth LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,418 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Leo Wealth LLC’s holdings in Simon Property Group were worth $244,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its holdings in Simon Property Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 191,820 shares of the real estate investment trust’s stock valued at $33,031,000 after buying an additional 1,634 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 62 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Simon Property Group by 8.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 2,799 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 224 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Simon Property Group by 23.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,721 shares of the real estate investment trust’s stock worth $9,047,000 after purchasing an additional 10,113 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in Simon Property Group by 8.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,723 shares of the real estate investment trust’s stock valued at $469,000 after purchasing an additional 212 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of several recent research reports. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Stock Performance

Shares of SPG stock opened at $180.01 on Friday. The firm has a 50 day moving average of $175.57 and a 200-day moving average of $170.19. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00.

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 net margin of 43.36% and a return on equity of 76.21%. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Announces Dividend

The company 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 yield of 4.67%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Simon Property Group 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.