Fiduciary Alliance LLC Buys New Shares in Simon Property Group, Inc. (NYSE:SPG)

Fiduciary Alliance LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,216 shares of the real estate investment trust’s stock, valued at approximately $3,654,000.

Several other hedge funds have also made changes to their positions in SPG. BOKF NA lifted its stake in Simon Property Group by 1,720.6% during the second quarter. BOKF NA now owns 3,805 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 3,596 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Simon Property Group by 4.3% during the second quarter. Oppenheimer & Co. Inc. now owns 38,598 shares of the real estate investment trust’s stock worth $5,859,000 after purchasing an additional 1,579 shares during the period. Federated Hermes Inc. lifted its stake in Simon Property Group by 19.7% during the second quarter. Federated Hermes Inc. now owns 21,012 shares of the real estate investment trust’s stock worth $3,190,000 after purchasing an additional 3,465 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in Simon Property Group by 64.9% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 17,792 shares of the real estate investment trust’s stock worth $2,701,000 after purchasing an additional 7,000 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Simon Property Group by 3.5% during the second quarter. Parallel Advisors LLC now owns 4,810 shares of the real estate investment trust’s stock worth $730,000 after purchasing an additional 163 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. 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 target price for the company. Finally, Mizuho lifted their target price 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $172.10.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were 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 $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $0.66 during midday trading on Monday, reaching $170.30. The company had a trading volume of 111,693 shares, compared to its average volume of 1,401,491. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $55.57 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The stock has a fifty day simple moving average of $177.38 and a 200 day simple moving average of $167.12. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $3.20 EPS. Simon Property Group’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

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.