Wealth Alliance LLC Makes New $627,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Wealth Alliance LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,775 shares of the real estate investment trust's stock, valued at approximately $627,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $295,000. Proficio Capital Partners LLC boosted its position in Simon Property Group by 31.9% during the 4th quarter. Proficio Capital Partners LLC now owns 3,149 shares of the real estate investment trust's stock worth $542,000 after acquiring an additional 761 shares during the period. TD Private Client Wealth LLC boosted its position in Simon Property Group by 11.1% during the 4th quarter. TD Private Client Wealth LLC now owns 1,595 shares of the real estate investment trust's stock worth $275,000 after acquiring an additional 160 shares during the period. Quantbot Technologies LP acquired a new stake in Simon Property Group during the 4th quarter worth about $1,658,000. Finally, Mizuho Securities USA LLC boosted its position in Simon Property Group by 46.3% during the 4th quarter. Mizuho Securities USA LLC now owns 29,068 shares of the real estate investment trust's stock worth $5,006,000 after acquiring an additional 9,195 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

SPG stock traded up $0.67 during trading on Thursday, hitting $166.41. The company had a trading volume of 318,607 shares, compared to its average volume of 1,633,372. The company has a fifty day moving average price of $161.35 and a two-hundred day moving average price of $165.58. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The company has a market cap of $54.32 billion, a P/E ratio of 26.50, a P/E/G ratio of 11.18 and a beta of 1.43. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.56 EPS. Equities 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 business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio is 133.76%.

Analyst Ratings Changes

A number of equities research analysts have commented on SPG shares. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 price target for 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. Finally, Scotiabank raised their price target on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and an average target price of $182.73.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 522 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stefan M. Selig acquired 219 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 $34,884.51. Following the purchase, the director owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. This represents a 0.69% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,386 shares of company stock worth $380,066 over the last quarter. Corporate insiders own 8.66% 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.