Chung Wu Investment Group LLC Invests $1.34 Million in Simon Property Group, Inc. (NYSE:SPG)

Chung Wu Investment Group LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,750 shares of the real estate investment trust’s stock, valued at approximately $1,335,000. Simon Property Group makes up 1.3% of Chung Wu Investment Group LLC’s investment portfolio, making the stock its 19th largest holding.

Several other large investors have also recently added to or reduced their stakes in SPG. WR Wealth Planners LLC grew its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Simon Property Group during the 3rd quarter worth about $30,000. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth about $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $41,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.1 %

Simon Property Group stock opened at $183.49 on Thursday. The stock has a market capitalization of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a 50 day moving average of $178.03 and a two-hundred day moving average of $174.32. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14.

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, topping 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%. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed 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. This represents a $8.40 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on SPG. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Mizuho raised their price objective 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.44.

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.