Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by White Pine Capital LLC

White Pine Capital LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,149 shares of the real estate investment trust’s stock after buying an additional 150 shares during the period. White Pine Capital LLC’s holdings in Simon Property Group were worth $542,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Creative Planning lifted its position in Simon Property Group by 4.9% during the third quarter. Creative Planning now owns 79,678 shares of the real estate investment trust’s stock worth $13,467,000 after buying an additional 3,696 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Simon Property Group during the 3rd quarter valued at about $310,000. Patton Fund Management Inc. purchased a new stake in shares of Simon Property Group in the third quarter valued at about $6,529,000. Bleakley Financial Group LLC increased its position in Simon Property Group by 1.1% during the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in Simon Property Group by 2.9% during the third quarter. Trust Co. of Vermont now owns 4,080 shares of the real estate investment trust’s stock worth $690,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired 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 owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 1.3 %

Shares of SPG opened at $186.24 on Friday. The company’s 50-day simple moving average is $175.60 and its 200-day simple moving average is $171.12. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $187.10. The stock has a market capitalization of $60.76 billion, a PE ratio of 25.65, a P/E/G ratio of 9.58 and a beta of 1.74.

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 (EPS) for the quarter, topping 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%. Analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.51%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

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

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.