Financial Management Network Inc. Grows Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Financial Management Network Inc. boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,147 shares of the real estate investment trust’s stock after purchasing an additional 67 shares during the period. Financial Management Network Inc.’s holdings in Simon Property Group were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Convergence Investment Partners LLC increased its position in Simon Property Group by 5.2% in the fourth quarter. Convergence Investment Partners LLC now owns 12,369 shares of the real estate investment trust’s stock worth $2,130,000 after buying an additional 610 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in Simon Property Group by 21.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,990 shares of the real estate investment trust’s stock worth $1,893,000 after buying an additional 1,916 shares during the last quarter. Venturi Wealth Management LLC increased its position in Simon Property Group by 19.9% in the fourth quarter. Venturi Wealth Management LLC now owns 746 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 124 shares during the last quarter. D.A. Davidson & CO. increased its position in Simon Property Group by 3.2% in the fourth quarter. D.A. Davidson & CO. now owns 29,251 shares of the real estate investment trust’s stock worth $5,037,000 after buying an additional 901 shares during the last quarter. Finally, Truist Financial Corp increased its position in Simon Property Group by 76.5% in the fourth quarter. Truist Financial Corp now owns 35,091 shares of the real estate investment trust’s stock worth $6,043,000 after buying an additional 15,215 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

NYSE:SPG opened at $186.03 on Wednesday. The firm has a market capitalization of $60.70 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 10.00 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The stock has a fifty day moving average of $175.91 and a 200 day moving average of $172.16. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded 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 research report on Thursday, January 2nd. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Finally, Piper Sandler upgraded 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 research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $175.10.

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.