Purkiss Capital Advisors LLC Makes New $232,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Purkiss Capital Advisors LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,346 shares of the real estate investment trust’s stock, valued at approximately $232,000.

A number of other institutional investors have also modified their holdings of SPG. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter valued at approximately $834,000. First Hawaiian Bank increased its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC boosted its position in shares of Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares during the period. Versant Capital Management Inc grew its stake in shares of Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value 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. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 1.9 %

NYSE SPG opened at $186.13 on Friday. The company has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $188.13. The company’s fifty day moving average price is $177.31 and its two-hundred day moving average price is $173.74.

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

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.51%. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $178.44.

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.