Argentarii LLC Purchases New Position in Simon Property Group, Inc. (NYSE:SPG)

Argentarii LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,136 shares of the real estate investment trust’s stock, valued at approximately $1,229,000.

A number of other institutional investors also recently bought and sold shares of SPG. Graypoint LLC increased its stake in Simon Property Group by 9.6% in the third quarter. Graypoint LLC now owns 3,303 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 289 shares during the period. Portside Wealth Group LLC increased its stake in shares of Simon Property Group by 19.3% during the third quarter. Portside Wealth Group LLC now owns 4,153 shares of the real estate investment trust’s stock worth $702,000 after acquiring an additional 673 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group during the third quarter worth about $30,000. CWA Asset Management Group LLC acquired a new position in shares of Simon Property Group during the third quarter worth about $1,503,000. Finally, Applied Finance Capital Management LLC increased its stake in shares of Simon Property Group by 9.9% during the third quarter. Applied Finance Capital Management LLC now owns 5,684 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 512 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $170.97 on Friday. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a market cap of $55.78 billion, a P/E ratio of 23.55, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company’s 50-day moving average price is $178.03 and its 200 day moving average price is $174.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPG shares. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft started 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 target on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho boosted their price target 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. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.44.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price 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 approximately $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

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.