Howard Capital Management Inc. Has $382,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Howard Capital Management Inc. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,217 shares of the real estate investment trust’s stock after purchasing an additional 108 shares during the quarter. Howard Capital Management Inc.’s holdings in Simon Property Group were worth $382,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in shares of Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after acquiring an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock worth $251,484,000 after acquiring an additional 25,519 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after purchasing an additional 98,366 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $184.57 on Tuesday. 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, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The stock has a market capitalization of $60.22 billion, a P/E ratio of 25.42, a P/E/G ratio of 10.10 and a beta of 1.74. The business has a 50-day moving average price of $176.43 and a two-hundred day moving average price of $173.07.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

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.