Spectrum Wealth Counsel LLC Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Spectrum Wealth Counsel LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,301 shares of the real estate investment trust’s stock after buying an additional 242 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Simon Property Group were worth $7,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WR Wealth Planners LLC grew its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $30,000. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group in the 4th quarter valued at approximately $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter valued at approximately $41,000. 93.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction 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 purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 1.9 %

NYSE:SPG opened at $186.13 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $188.13. The business has a fifty day moving average price of $177.31 and a 200-day moving average price of $173.62.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 74.02% and a net margin of 41.49%. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.51%. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $178.44.

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.