Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by BCGM Wealth Management LLC

BCGM Wealth Management LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,016 shares of the real estate investment trust’s stock after purchasing an additional 139 shares during the period. BCGM Wealth Management LLC’s holdings in Simon Property Group were worth $1,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Eastern Bank acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $42,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Simon Property Group by 29.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock valued at $1,389,000 after acquiring an additional 1,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Simon Property Group by 8.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after purchasing an additional 607 shares during the period. Ballentine Partners LLC raised its position in Simon Property Group by 1.6% in the third quarter. Ballentine Partners LLC now owns 4,702 shares of the real estate investment trust’s stock valued at $795,000 after purchasing an additional 75 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Simon Property Group during the third quarter worth about $759,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent research reports. 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. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Price Performance

Shares of SPG opened at $183.86 on Monday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. 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 stock has a fifty day moving average price of $176.37 and a 200 day moving average price of $172.86. The company has a market cap of $59.99 billion, a P/E ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

About Simon Property Group

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.