Frank Rimerman Advisors LLC Has $1.38 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Frank Rimerman Advisors LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,031 shares of the real estate investment trust’s stock after buying an additional 207 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Simon Property Group were worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC grew its holdings in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. Finally, Synergy Asset Management LLC bought a new position in Simon Property Group during the fourth quarter worth about $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. 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. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. 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 report on Wednesday, December 4th. Finally, Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $180.33.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price 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 document filed with the SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Simon Property Group Trading Up 1.0 %

Simon Property Group stock opened at $161.13 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a 50-day moving average of $177.03 and a 200-day moving average of $174.43. The company has a market cap of $52.57 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

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 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%. On average, equities analysts expect 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 disclosed 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. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.