Concurrent Investment Advisors LLC Has $7.96 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Concurrent Investment Advisors LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 49.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 46,212 shares of the real estate investment trust’s stock after purchasing an additional 15,325 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Simon Property Group were worth $7,958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPG. Vontobel Holding Ltd. acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $310,000. Raymond James & Associates grew its position in shares of Simon Property Group by 2.4% during the 3rd quarter. Raymond James & Associates now owns 274,616 shares of the real estate investment trust’s stock worth $46,416,000 after buying an additional 6,358 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $5,321,000. Signaturefd LLC grew its position in shares of Simon Property Group by 9.7% during the 3rd quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock worth $925,000 after buying an additional 486 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $185.88 on Thursday. The company has a fifty day simple moving average of $176.10 and a 200 day simple moving average of $172.25. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $60.65 billion, a P/E ratio of 25.60, a PEG ratio of 10.06 and a beta of 1.74.

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

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 4.52%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $175.10.

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.