Fiduciary Group LLC Has $4.18 Million Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Fiduciary Group LLC decreased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,273 shares of the real estate investment trust’s stock after selling 441 shares during the quarter. Fiduciary Group LLC’s holdings in Simon Property Group were worth $4,180,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the 4th quarter worth $28,000. WR Wealth Planners LLC lifted its holdings 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 during the period. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter worth about $30,000. TCTC Holdings LLC bought a new position in shares of Simon Property Group during the 4th quarter worth about $34,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SPG. Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted 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’s stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Trading Down 0.0 %

Shares of NYSE SPG opened at $164.73 on Thursday. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company has a market cap of $53.75 billion, a PE ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a 50-day moving average of $176.50 and a two-hundred day moving average of $174.40.

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 the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm 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. This represents a $8.40 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 8.60% of the stock is owned by corporate insiders.

About Simon Property Group

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.