Xponance Inc. Has $12.50 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Xponance Inc. raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 72,591 shares of the real estate investment trust’s stock after acquiring an additional 2,515 shares during the quarter. Xponance Inc.’s holdings in Simon Property Group were worth $12,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $30,000. TCTC Holdings LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.3 %

Simon Property Group stock opened at $164.70 on Wednesday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a market capitalization of $53.74 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm’s fifty day moving average price is $176.70 and its two-hundred day moving average price is $174.47. 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 released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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 predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded 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. Mizuho raised their price target 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. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $180.33.

Simon Property Group 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.