Allianz SE Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Allianz SE purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 53,196 shares of the real estate investment trust’s stock, valued at approximately $9,092,000.

Several other institutional investors have also added to or reduced their stakes in SPG. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $164.21 on Friday. The business’s fifty day simple moving average is $175.42 and its 200 day simple moving average is $174.37. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The firm has a market capitalization of $53.58 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.12%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. 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, Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Six equities 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, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $180.33.

Insider Transactions at Simon Property Group

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

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.