Arbor Capital Management Inc. ADV Has $1.86 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Arbor Capital Management Inc. ADV reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,605 shares of the real estate investment trust’s stock after selling 1,387 shares during the period. Simon Property Group comprises about 1.9% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 17th largest position. Arbor Capital Management Inc. ADV’s holdings in Simon Property Group were worth $1,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SPG. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $28,000. WR Wealth Planners LLC increased its holdings 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 acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $30,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Simon Property Group during the 4th quarter valued at about $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of SPG stock opened at $161.13 on Monday. The stock has a 50 day moving average of $177.03 and a two-hundred day moving average of $174.48. 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 12 month low of $139.25 and a 12 month high of $190.14. The company has a market capitalization of $52.57 billion, a P/E ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.21%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.33.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

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.