Alpine Woods Capital Investors LLC Increases Holdings in Simon Property Group, Inc. (NYSE:SPG)

Alpine Woods Capital Investors LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,419 shares of the real estate investment trust's stock after purchasing an additional 2,438 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Simon Property Group were worth $2,063,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter worth $295,000. Proficio Capital Partners LLC grew its holdings in Simon Property Group by 31.9% in the fourth quarter. Proficio Capital Partners LLC now owns 3,149 shares of the real estate investment trust's stock valued at $542,000 after purchasing an additional 761 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in Simon Property Group by 6.3% in the fourth quarter. Sage Mountain Advisors LLC now owns 3,452 shares of the real estate investment trust's stock valued at $594,000 after purchasing an additional 205 shares during the last quarter. AGF Management Ltd. grew its holdings in Simon Property Group by 6.5% in the fourth quarter. AGF Management Ltd. now owns 12,500 shares of the real estate investment trust's stock valued at $2,153,000 after purchasing an additional 760 shares during the last quarter. Finally, Cascade Financial Partners LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $215,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock bought 396 shares of Simon Property Group stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,386 shares of company stock valued at $380,066. Insiders own 8.66% of the company's stock.

Simon Property Group Stock Down 1.0%

Shares of SPG traded down $1.67 during trading hours on Friday, hitting $161.78. 452,552 shares of the company were exchanged, compared to its average volume of 1,544,086. The company has a market cap of $52.81 billion, a PE ratio of 25.76, a PEG ratio of 9.09 and a beta of 1.43. The firm's 50 day moving average is $161.32 and its 200-day moving average is $166.21. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $3.56 EPS. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.19%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus raised their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Barclays initiated coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 target price on the stock. Scotiabank lifted their price objective on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Finally, Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $178.50.

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.