VisionPoint Advisory Group LLC Invests $58,000 in Simon Property Group, Inc. (NYSE:SPG)

VisionPoint Advisory Group LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 335 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the third quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. Eastern Bank acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new stake in Simon Property Group during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $175.10.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, with a total value 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 SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $183.86 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business has a 50-day moving average of $176.37 and a 200-day moving average of $172.60. The stock 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, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $188.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results 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 return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared 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 4.57%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

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.