Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by TD Private Client Wealth LLC

TD Private Client Wealth LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,595 shares of the real estate investment trust’s stock after buying an additional 160 shares during the period. TD Private Client Wealth LLC’s holdings in Simon Property Group were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC increased its position 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 valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth $30,000. TCTC Holdings LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $34,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the fourth quarter valued at about $41,000. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several research reports. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $180.33.

Simon Property Group Stock Up 2.6 %

Shares of Simon Property Group stock opened at $166.36 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The stock has a 50-day moving average price of $175.98 and a 200 day moving average price of $174.45. The company has a market cap of $54.28 billion, a P/E ratio of 22.91, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted 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, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.05%. Simon Property Group’s dividend payout ratio is 115.70%.

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.