Jones Financial Companies Lllp Has $9.83 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Jones Financial Companies Lllp boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 354.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 57,060 shares of the real estate investment trust’s stock after buying an additional 44,491 shares during the quarter. Jones Financial Companies Lllp’s holdings in Simon Property Group were worth $9,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC boosted its stake 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 purchasing an additional 128 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the third quarter valued at approximately $30,000. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group during the 4th quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group during the 4th quarter valued at $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price 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 of the company’s stock, 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 can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Simon Property Group Trading Up 0.8 %

Shares of NYSE:SPG opened at $187.60 on Tuesday. The firm has a market cap of $61.21 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The company’s fifty day simple moving average is $177.63 and its 200 day simple moving average is $174.07. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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%. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.48%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

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

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.