Proficio Capital Partners LLC Boosts Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Proficio Capital Partners LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 22,608.6% during the fourth quarter, Holdings Channel reports. The fund owned 542,281 shares of the real estate investment trust’s stock after acquiring an additional 539,893 shares during the period. Proficio Capital Partners LLC’s holdings in Simon Property Group were worth $93,386,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group in the fourth quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the third quarter worth about $30,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $41,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $41,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $182.66 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market cap of $59.60 billion, a P/E ratio of 25.16, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13. The company has a 50-day moving average price of $177.02 and a 200 day moving average price of $173.39.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

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 given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.60%. Simon Property Group’s payout ratio is 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s 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 purchase, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. Mizuho increased their target price on shares of 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 upgraded 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. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.44.

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.