Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,158 shares of the real estate investment trust’s stock after acquiring an additional 493 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Simon Property Group were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its holdings in Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 61 shares during the period. Inspire Advisors LLC lifted its position in shares of Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Simon Property Group by 4.3% in the fourth quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 65 shares during the period. UMB Bank n.a. grew its holdings in Simon Property Group by 2.8% during the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 66 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in Simon Property Group by 0.9% during the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after buying an additional 67 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

SPG stock opened at $174.42 on Monday. The firm has a market cap of $56.91 billion, a P/E ratio of 23.22, a P/E/G ratio of 9.26 and a beta of 1.75. The stock’s 50 day simple moving average is $176.69 and its 200 day simple moving average is $168.78. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 last year, the company posted $3.20 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Monday, December 9th. Simon Property Group’s payout ratio is presently 111.85%.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SPG shares. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began 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. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $172.10.

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.