Sound Income Strategies LLC Has $18.20 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Sound Income Strategies LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,709 shares of the real estate investment trust’s stock after purchasing an additional 3,961 shares during the period. Simon Property Group accounts for approximately 1.1% of Sound Income Strategies LLC’s portfolio, making the stock its 27th biggest position. Sound Income Strategies LLC’s holdings in Simon Property Group were worth $18,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the 3rd quarter worth about $834,000. First Hawaiian Bank raised its position in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC lifted its stake in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares during the last quarter. TTP Investments Inc. grew its position in Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased 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 directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho upped their price target 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 Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $172.10.

Simon Property Group Stock Up 1.2 %

Shares of SPG stock opened at $174.94 on Friday. Simon Property Group, Inc. has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $57.08 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. The stock has a 50 day moving average of $176.87 and a 200-day moving average of $168.40.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 earnings per share. On average, equities analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Simon Property Group Company 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.