Simon Property Group, Inc. (NYSE:SPG) Position Increased by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,102 shares of the real estate investment trust’s stock after acquiring an additional 373 shares during the period. Atomi Financial Group Inc.’s holdings in Simon Property Group were worth $1,051,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth about $30,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Simon Property Group during the third quarter worth approximately $42,000. Eastern Bank purchased a new position in Simon Property Group during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new position in Simon Property Group in the 3rd quarter valued at approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Simon Property Group by 107.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 413 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This 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. 8.60% of the stock is owned by insiders.

Analysts Set New Price Targets

SPG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho lifted their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Stock Down 1.7 %

Shares of Simon Property Group stock opened at $172.90 on Thursday. Simon Property Group, Inc. has a 12-month low of $135.15 and a 12-month high of $186.00. The stock has a market capitalization of $56.41 billion, a P/E ratio of 23.02, a PEG ratio of 9.33 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a 50 day moving average price of $177.00 and a two-hundred day moving average price of $168.36.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.20 earnings per share. Equities analysts expect that Simon Property Group, Inc. will post 12.72 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a $2.10 dividend. The ex-dividend date was Monday, December 9th. This is a positive change 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 4.86%. Simon Property Group’s payout ratio is presently 111.85%.

About Simon Property Group

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.