Simon Property Group, Inc. (NYSE:SPG) Stake Raised by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,158 shares of the real estate investment trust’s stock after purchasing an additional 493 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Simon Property Group were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SPG. KBC Group NV grew its stake in shares of Simon Property Group by 170.3% in the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after purchasing an additional 554,605 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Simon Property Group in the fourth quarter worth about $5,528,000. Blue Trust Inc. grew its position in Simon Property Group by 29.0% in the 4th quarter. Blue Trust Inc. now owns 5,598 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 1,260 shares in the last quarter. Jamison Private Wealth Management Inc. increased its stake in Simon Property Group by 22.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 13,377 shares of the real estate investment trust’s stock valued at $2,304,000 after buying an additional 2,478 shares during the period. Finally, TTP Investments Inc. raised its position in shares of Simon Property Group by 67.4% during the 4th quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust’s stock worth $9,885,000 after buying an additional 23,109 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho boosted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $172.10.

Simon Property Group Trading Down 0.3 %

NYSE:SPG opened at $174.42 on Monday. The stock has a fifty day simple moving average of $176.69 and a 200 day simple moving average of $168.78. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market capitalization of $56.91 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 9.26 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.20 earnings per share. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 111.85%.

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.