Custom Index Systems LLC Acquires 426 Shares of Simon Property Group, Inc. (NYSE:SPG)

Custom Index Systems LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,091 shares of the real estate investment trust’s stock after purchasing an additional 426 shares during the period. Custom Index Systems LLC’s holdings in Simon Property Group were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in SPG. Caprock Group LLC grew its position in Simon Property Group by 8.8% during the fourth quarter. Caprock Group LLC now owns 17,040 shares of the real estate investment trust’s stock worth $2,934,000 after buying an additional 1,375 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at approximately $41,000. Highland Capital Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $1,190,000. Ibex Wealth Advisors acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $404,000. Finally, SteelPeak Wealth LLC increased its position in shares of Simon Property Group by 18.8% during the fourth quarter. SteelPeak Wealth LLC now owns 9,153 shares of the real estate investment trust’s stock valued at $1,576,000 after purchasing an additional 1,446 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.2 %

NYSE SPG opened at $173.75 on Friday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group, Inc. has a 52 week low of $135.15 and a 52 week high of $186.00. The stock has a market capitalization of $56.69 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 9.30 and a beta of 1.75. The stock has a fifty day moving average of $176.23 and a 200-day moving average of $169.38.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $3.20 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.72 EPS for the current year.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPG shares. Deutsche Bank Aktiengesellschaft assumed 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 on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $172.10.

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.