Clientfirst Wealth Management LLC Makes New $274,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Clientfirst Wealth Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,593 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Simon Property Group in the second quarter valued at $364,000. Brookstone Capital Management grew its position in shares of Simon Property Group by 8.6% in the third quarter. Brookstone Capital Management now owns 21,170 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 1,678 shares during the period. CWM LLC increased its stake in shares of Simon Property Group by 3.3% during the third quarter. CWM LLC now owns 9,382 shares of the real estate investment trust’s stock worth $1,586,000 after purchasing an additional 302 shares in the last quarter. Wedmont Private Capital raised its position in shares of Simon Property Group by 5.9% during the 3rd quarter. Wedmont Private Capital now owns 6,511 shares of the real estate investment trust’s stock worth $1,091,000 after purchasing an additional 361 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Simon Property Group by 7.1% in the 3rd quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $180.01 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a market capitalization of $58.73 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The firm’s 50-day moving average is $175.57 and its two-hundred day moving average is $170.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.67%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analyst Ratings Changes

Several research firms have commented on SPG. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Mizuho raised 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. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $175.10.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was acquired 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. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

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.