Veridan Wealth LLC Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Veridan Wealth LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,722 shares of the real estate investment trust’s stock, valued at approximately $819,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Private Trust Co. NA lifted its position in shares of Simon Property Group by 41.5% in the 4th quarter. Private Trust Co. NA now owns 2,978 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 874 shares during the last quarter. QRG Capital Management Inc. raised its stake in Simon Property Group by 4.3% during the fourth quarter. QRG Capital Management Inc. now owns 186,547 shares of the real estate investment trust’s stock worth $32,125,000 after acquiring an additional 7,680 shares during the period. Proficio Capital Partners LLC lifted its holdings in Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock worth $93,386,000 after acquiring an additional 539,893 shares during the last quarter. Kovack Advisors Inc. grew its holdings in shares of Simon Property Group by 11.4% during the fourth quarter. Kovack Advisors Inc. now owns 1,568 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 160 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Simon Property Group by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 45,952 shares of the real estate investment trust’s stock worth $7,913,000 after purchasing an additional 126 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPG shares. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Mizuho raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Trading Down 0.9 %

Simon Property Group stock opened at $182.66 on Friday. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business has a 50 day moving average price of $177.02 and a two-hundred day moving average price of $173.39. The stock has a market cap of $59.60 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its 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 return on equity of 74.02% and a net margin of 41.49%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.60%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 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 completion of the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Company 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.