WESPAC Advisors LLC Makes New $841,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

WESPAC Advisors LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,882 shares of the real estate investment trust’s stock, valued at approximately $841,000.

Other hedge funds have also bought and sold shares of the company. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group in the 4th quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in Simon Property Group in the 3rd quarter worth $30,000. Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the 4th quarter worth $41,000. Synergy Asset Management LLC purchased a new stake in Simon Property Group in the 4th quarter worth $41,000. Finally, Eastern Bank purchased a new stake in Simon Property Group in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $183.86 on Friday. The company has a market capitalization of $59.99 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The firm’s 50-day moving average is $176.37 and its 200 day moving average is $172.72. 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 (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s payout ratio is 115.70%.

Analyst Upgrades and Downgrades

Several analysts have commented on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’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 approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by insiders.

Simon Property Group Company 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.