Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,422 shares of the real estate investment trust’s stock after acquiring an additional 163 shares during the quarter. Meridian Wealth Management LLC’s holdings in Simon Property Group were worth $413,000 at the end of the most recent reporting period.

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

Simon Property Group Price Performance

NYSE SPG opened at $183.49 on Thursday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock’s 50-day moving average is $178.03 and its two-hundred day moving average is $174.32. 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 cap of $59.87 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

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, beating 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%. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business 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 4.58%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPG. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Moderate Buy” and a consensus target price of $178.44.

Insider Buying and Selling at Simon Property Group

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 shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.