Burney Co. Increases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Burney Co. boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 42.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,251 shares of the real estate investment trust’s stock after acquiring an additional 674 shares during the quarter. Burney Co.’s holdings in Simon Property Group were worth $388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the third quarter worth about $834,000. First Hawaiian Bank increased its stake in Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC raised its holdings in shares of Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares during the last quarter. TTP Investments Inc. lifted its position in shares of Simon Property Group by 42.0% in the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after acquiring an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc boosted 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 worth $172,000 after acquiring an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on SPG shares. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. 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 note on Thursday, January 2nd. Finally, Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $172.10.

Simon Property Group Stock Performance

Simon Property Group stock opened at $174.28 on Friday. The stock has a market cap of $56.86 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a 50 day simple moving average of $177.28 and a 200-day simple moving average of $167.50. Simon Property Group, Inc. has a 1-year low of $135.15 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $3.20 EPS. Simon Property Group’s revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Simon Property Group, Inc. will post 12.74 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.82%. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

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.