Simon Property Group, Inc. (NYSE:SPG) Stock Holdings Increased by William Allan Corp

William Allan Corp raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,063 shares of the real estate investment trust’s stock after buying an additional 135 shares during the period. William Allan Corp’s holdings in Simon Property Group were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the 3rd quarter worth $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $41,000. Eastern Bank purchased a new position in Simon Property Group in the 3rd quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new stake in Simon Property Group during the 3rd quarter worth about $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Simon Property Group by 107.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $180.01 on Friday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $186.00. The business’s 50-day moving average price is $175.65 and its two-hundred day moving average price is $170.12. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $58.73 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. Analysts anticipate that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is 111.85%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPG. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.10.

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.