Sheets Smith Wealth Management Has $5.85 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Sheets Smith Wealth Management lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,953 shares of the real estate investment trust’s stock after acquiring an additional 1,615 shares during the period. Sheets Smith Wealth Management’s holdings in Simon Property Group were worth $5,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SPG. Fort Washington Investment Advisors Inc. OH grew its position in Simon Property Group by 25.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 182,040 shares of the real estate investment trust’s stock valued at $31,349,000 after acquiring an additional 36,898 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Simon Property Group by 6.5% in the 4th quarter. Atomi Financial Group Inc. now owns 6,102 shares of the real estate investment trust’s stock valued at $1,051,000 after purchasing an additional 373 shares during the last quarter. Alpha Cubed Investments LLC boosted its position in Simon Property Group by 9.4% in the fourth quarter. Alpha Cubed Investments LLC now owns 3,551 shares of the real estate investment trust’s stock valued at $612,000 after buying an additional 305 shares in the last quarter. Hamlin Capital Management LLC bought a new stake in shares of Simon Property Group during the fourth quarter worth about $109,403,000. Finally, Ballentine Partners LLC increased its stake in shares of Simon Property Group by 12.6% in the fourth quarter. Ballentine Partners LLC now owns 5,296 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 594 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho lifted 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. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.10.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $175.88 on Wednesday. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The firm has a market cap of $57.39 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 9.33 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company’s 50 day moving average is $177.05 and its 200-day moving average is $168.15.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned $3.20 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.78%. Simon Property Group’s dividend payout ratio is presently 111.85%.

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.