Alpine Woods Capital Investors LLC Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Alpine Woods Capital Investors LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,981 shares of the real estate investment trust’s stock after buying an additional 594 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Simon Property Group were worth $1,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. increased its position in Simon Property Group by 3.8% during the third quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 322 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Simon Property Group during the third quarter worth approximately $52,000. Venturi Wealth Management LLC increased its position in Simon Property Group by 16.5% during the third quarter. Venturi Wealth Management LLC now owns 622 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 88 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Simon Property Group by 9.8% in the third quarter. Apollon Wealth Management LLC now owns 6,701 shares of the real estate investment trust’s stock worth $1,133,000 after acquiring an additional 599 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its position in shares of Simon Property Group by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $159.12 on Friday. The company has a market capitalization of $51.92 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm has a fifty day simple moving average of $177.33 and a 200-day simple moving average of $174.43. 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, 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 earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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%. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 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. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.28%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were purchased 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 $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPG. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. 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 price objective for the company. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $180.33.

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.