Veridan Wealth LLC Invests $819,000 in Simon Property Group, Inc. (NYSE:SPG)

Veridan Wealth LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,722 shares of the real estate investment trust’s stock, valued at approximately $819,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group during the 4th quarter worth approximately $41,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group during the fourth quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $45,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.9 %

Shares of SPG stock opened at $182.66 on Friday. The firm has a 50 day moving average price of $177.02 and a two-hundred day moving average price of $173.39. The company has a market capitalization of $59.60 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

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 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%. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced 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 4.60%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SPG shares. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $178.44.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by insiders.

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.