Strategic Financial Concepts LLC Buys 473,779 Shares of Simon Property Group, Inc. (NYSE:SPG)

Strategic Financial Concepts LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 17,222.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 476,530 shares of the real estate investment trust’s stock after acquiring an additional 473,779 shares during the period. Strategic Financial Concepts LLC’s holdings in Simon Property Group were worth $82,063,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SPG. Renaissance Technologies LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at $364,000. Czech National Bank raised its holdings in Simon Property Group by 0.5% during the 3rd quarter. Czech National Bank now owns 62,431 shares of the real estate investment trust’s stock worth $10,552,000 after purchasing an additional 321 shares during the last quarter. Mather Group LLC. lifted its holdings in Simon Property Group by 14.1% in the third quarter. Mather Group LLC. now owns 3,460 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 428 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of Simon Property Group by 15.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 5,729 shares of the real estate investment trust’s stock valued at $968,000 after purchasing an additional 752 shares during the period. Finally, Brookstone Capital Management boosted its holdings in Simon Property Group by 8.6% during the third quarter. Brookstone Capital Management now owns 21,170 shares of the real estate investment trust’s stock worth $3,578,000 after buying an additional 1,678 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research analyst reports. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research note on Wednesday. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $175.10.

Simon Property Group Stock Performance

Shares of SPG opened at $180.01 on Friday. The firm has a market capitalization of $58.73 billion, a P/E ratio of 23.97, a P/E/G ratio of 9.31 and a beta of 1.74. The stock has a 50 day moving average price of $175.65 and a two-hundred day moving average price of $170.12. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00.

Simon Property Group (NYSE:SPG) last released its 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 net margin of 43.36% and a return on equity of 76.21%. Equities analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 111.85%.

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.