Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,568 shares of the real estate investment trust’s stock after buying an additional 160 shares during the quarter. Kovack Advisors Inc.’s holdings in Simon Property Group were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $30,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $45,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

NYSE:SPG opened at $186.13 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market cap of $60.73 billion, a P/E ratio of 25.64, a P/E/G ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The firm’s 50 day moving average is $177.31 and its two-hundred day moving average is $173.74.

Simon Property Group (NYSE:SPG) last posted 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%. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPG. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. 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. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $178.44.

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.