White Pine Capital LLC Purchases 150 Shares of Simon Property Group, Inc. (NYSE:SPG)

White Pine Capital LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,149 shares of the real estate investment trust’s stock after buying an additional 150 shares during the quarter. White Pine Capital LLC’s holdings in Simon Property Group were worth $542,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Simon Property Group during the 3rd quarter worth $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group in the fourth quarter worth about $41,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $41,000. Eastern Bank acquired a new position in shares of Simon Property Group during the third quarter valued at about $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $45,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $175.10.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired 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 directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 1.3 %

Simon Property Group stock opened at $186.24 on Friday. The firm has a market cap of $60.76 billion, a PE ratio of 25.65, a P/E/G ratio of 9.58 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $187.10. The stock’s 50 day simple moving average is $175.60 and its two-hundred day simple moving average is $171.12. 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 (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 4.51%. Simon Property Group’s payout ratio is 115.70%.

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.