Greystone Financial Group LLC Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

Greystone Financial Group LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,298 shares of the real estate investment trust’s stock after acquiring an additional 597 shares during the quarter. Greystone Financial Group LLC’s holdings in Simon Property Group were worth $6,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPG. Capital Performance Advisors LLP purchased a new position in Simon Property Group during the third quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $41,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Simon Property Group during the 4th quarter worth approximately $41,000. Eastern Bank acquired a new stake in Simon Property Group in the 3rd quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Simon Property Group in the fourth quarter valued at approximately $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPG. Mizuho raised their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. 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. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.10.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 1.5 %

SPG stock opened at $183.86 on Friday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13. The company’s 50 day moving average price is $176.37 and its 200 day moving average price is $172.60. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm 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 (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 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, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared 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 4.57%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 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.