New Age Alpha Advisors LLC Purchases New Shares in Simon Property Group, Inc. (NYSE:SPG)

New Age Alpha Advisors LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 141,922 shares of the real estate investment trust’s stock, valued at approximately $24,440,000. Simon Property Group comprises 1.0% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 10th largest holding.

Other large investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC increased its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC purchased a new position in Simon Property Group in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $165.91 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The business has a 50 day moving average of $175.62 and a 200-day moving average of $174.36. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate 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, equities 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. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated 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 on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction on 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 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 represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is owned by insiders.

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.