Optimum Investment Advisors Cuts Stake in Simon Property Group, Inc. (NYSE:SPG)

Optimum Investment Advisors trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,779 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Optimum Investment Advisors’ holdings in Simon Property Group were worth $479,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new stake in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC lifted its stake in shares of Simon Property Group by 328.2% in 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 purchased a new stake in Simon Property Group during the 4th quarter valued at about $30,000. TCTC Holdings LLC bought a new position in Simon Property Group during the 4th quarter worth approximately $34,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho upped 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 note on Wednesday, December 4th. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Finally, StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.33.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Simon Property Group stock opened at $162.12 on Friday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The stock has a market cap of $52.90 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. The stock’s 50 day simple moving average is $176.11 and its two-hundred day simple moving average is $174.37. 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 issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed 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. This represents a $8.40 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 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.