MRP Capital Investments LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

MRP Capital Investments LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,475 shares of the real estate investment trust’s stock after selling 75 shares during the quarter. MRP Capital Investments LLC’s holdings in Simon Property Group were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group during the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its holdings in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $30,000. TCTC Holdings LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $34,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Simon Property Group in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Down 0.3 %

SPG opened at $164.36 on Friday. The firm’s 50 day simple moving average is $176.29 and its two-hundred day simple moving average is $174.33. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $53.63 billion, a PE ratio of 22.64, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts forecast 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 paid 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 5.11%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Finally, Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. 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.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $180.33.

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.