Summit Financial LLC Increases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Summit Financial LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,696 shares of the real estate investment trust’s stock after buying an additional 785 shares during the quarter. Summit Financial LLC’s holdings in Simon Property Group were worth $637,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Childress Capital Advisors LLC raised its holdings in shares of Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. increased its position in shares of Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 62 shares during the period. Carnegie Investment Counsel raised its stake in shares of Simon Property Group by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 1,569 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Simon Property Group by 2.8% in the 4th quarter. UMB Bank n.a. now owns 2,391 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 66 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Trading Up 2.5 %

Shares of Simon Property Group stock opened at $170.58 on Thursday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm has a market cap of $55.66 billion, a PE ratio of 23.50, a PEG ratio of 10.10 and a beta of 1.45. The company has a 50 day simple moving average of $175.03 and a two-hundred day simple moving average of $174.53.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.92%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.