AlphaQuest LLC Takes $1.13 Million Position in Simon Property Group, Inc. (NYSE:SPG)

AlphaQuest LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,565 shares of the real estate investment trust’s stock, valued at approximately $1,131,000.

Several other large investors also recently made changes to their positions in the stock. Childress Capital Advisors LLC boosted its holdings in shares of Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 58 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 2.0 %

SPG opened at $170.97 on Monday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $55.78 billion, a P/E ratio of 23.55, a P/E/G ratio of 10.10 and a beta of 1.78. The stock has a fifty day moving average of $178.03 and a 200-day moving average of $174.60.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS 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. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 8.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of several research reports. Mizuho raised 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. 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 for the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Six investment 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 presently has a consensus rating of “Hold” and a consensus target price 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.