Oliver Luxxe Assets LLC Has $5.87 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Oliver Luxxe Assets LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,104 shares of the real estate investment trust’s stock after buying an additional 221 shares during the quarter. Simon Property Group accounts for approximately 1.0% of Oliver Luxxe Assets LLC’s holdings, making the stock its 25th biggest holding. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $5,873,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPG. Aptus Capital Advisors LLC increased its holdings in Simon Property Group by 3.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC increased its stake in Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares in the last quarter. Groupama Asset Managment lifted its holdings in Simon Property Group by 0.9% during the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock worth $1,305,000 after acquiring an additional 67 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Simon Property Group by 1.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in Simon Property Group by 2.8% in the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPG. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a report on Thursday. Finally, Mizuho upped their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $172.10.

Simon Property Group Stock Down 0.9 %

Shares of Simon Property Group stock traded down $1.50 during trading hours on Monday, reaching $174.57. The company’s stock had a trading volume of 1,033,082 shares, compared to its average volume of 988,013. Simon Property Group, Inc. has a one year low of $135.15 and a one year high of $186.00. The company has a market capitalization of $56.96 billion, a P/E ratio of 23.25, a P/E/G ratio of 10.50 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s fifty day simple moving average is $177.07 and its two-hundred day simple moving average is $166.20.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.20 earnings per share. On average, research analysts forecast that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.81%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s payout ratio is currently 111.85%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s 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 acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is owned by corporate insiders.

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.