D.A. Davidson & CO. Has $5.04 Million Position in Simon Property Group, Inc. (NYSE:SPG)

D.A. Davidson & CO. boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,251 shares of the real estate investment trust’s stock after buying an additional 901 shares during the quarter. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $5,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Vontobel Holding Ltd. acquired a new position in Simon Property Group during the 3rd quarter worth about $310,000. Raymond James & Associates lifted its stake in shares of Simon Property Group by 2.4% in the 3rd quarter. Raymond James & Associates now owns 274,616 shares of the real estate investment trust’s stock valued at $46,416,000 after purchasing an additional 6,358 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $5,321,000. Signaturefd LLC lifted its stake in shares of Simon Property Group by 9.7% in the 3rd quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 486 shares during the period. Finally, Eastern Bank acquired a new position in shares of Simon Property Group in the 3rd quarter valued at about $42,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $185.88 on Thursday. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.13. The firm has a market capitalization of $60.65 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 10.00 and a beta of 1.74. The business has a 50-day simple moving average of $176.10 and a 200 day simple moving average of $172.25. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 4.52%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

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.