Arbor Capital Management Inc. ADV Has $1.86 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Arbor Capital Management Inc. ADV trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,605 shares of the real estate investment trust’s stock after selling 1,387 shares during the period. Simon Property Group accounts for approximately 1.9% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 17th largest holding. Arbor Capital Management Inc. ADV’s holdings in Simon Property Group were worth $1,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC increased its stake in shares of 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 buying an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research reports. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on 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. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $161.13 on Monday. The business’s 50-day moving average price is $177.03 and its two-hundred day moving average price is $174.48. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a market cap of $52.57 billion, a PE ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

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 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 5.21%. Simon Property Group’s dividend payout ratio is presently 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.