Samalin Investment Counsel LLC Makes New $216,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Samalin Investment Counsel LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,841 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its stake in Simon Property Group by 2.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 4,827 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 123 shares during the period. PAX Financial Group LLC purchased a new position in Simon Property Group during the fourth quarter worth $213,000. Sei Investments Co. boosted its stake in Simon Property Group by 14.1% during the fourth quarter. Sei Investments Co. now owns 790,192 shares of the real estate investment trust’s stock worth $92,828,000 after buying an additional 97,748 shares during the period. SYSTM Wealth Solutions LLC purchased a new position in Simon Property Group during the fourth quarter worth $411,000. Finally, Bison Wealth LLC purchased a new position in Simon Property Group during the fourth quarter worth $208,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Karen N. Horn bought 551 shares of Simon Property Group stock in a transaction on Friday, March 31st. The stock was acquired at an average cost of $109.33 per share, for a total transaction of $60,240.83. Following the completion of the acquisition, the director now owns 34,079 shares of the company’s stock, valued at approximately $3,725,857.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Up 0.2 %

Shares of SPG stock traded up $0.24 on Friday, hitting $101.49. The stock had a trading volume of 291,474 shares, compared to its average volume of 1,522,165. The company has a market cap of $33.19 billion, a PE ratio of 15.38, a P/E/G ratio of 2.48 and a beta of 1.51. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 7.50. The business has a 50 day moving average price of $107.93 and a 200 day moving average price of $116.06. Simon Property Group, Inc. has a one year low of $86.02 and a one year high of $133.08.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be issued a $1.85 dividend. The ex-dividend date is Thursday, June 8th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a yield of 7.29%. Simon Property Group’s payout ratio is currently 109.09%.

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on shares of Simon Property Group from $135.00 to $129.50 in a research note on Wednesday, May 3rd. Mizuho lowered their target price on shares of Simon Property Group from $116.00 to $106.00 in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Simon Property Group in a research note on Tuesday, March 21st. They set a “buy” rating and a $150.00 target price for the company. Morgan Stanley boosted their target price on shares of Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Finally, StockNews.com initiated coverage on shares of Simon Property Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $127.63.

Simon Property Group Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.