Financial Management Network Inc. Has $2.67 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Financial Management Network Inc. increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,147 shares of the real estate investment trust’s stock after purchasing an additional 67 shares during the period. Financial Management Network Inc.’s holdings in Simon Property Group were worth $2,667,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares during the period. Los Angeles Capital Management LLC grew its stake in Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after purchasing an additional 993,694 shares during the period. International Assets Investment Management LLC grew its stake in Simon Property Group by 18,764.1% during the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares during the period. Hamlin Capital Management LLC acquired a new stake in Simon Property Group during the fourth quarter worth approximately $109,403,000. Finally, Mizuho Securities USA LLC grew its stake in Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.5 %

SPG stock opened at $186.03 on Wednesday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock’s 50 day moving average is $175.91 and its 200-day moving average is $172.16. The firm has a market capitalization of $60.70 billion, a PE ratio of 25.62, a P/E/G ratio of 10.00 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

SPG has been the topic of several recent research reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

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.