Imprint Wealth LLC Invests $6.93 Million in Simon Property Group, Inc. (NYSE:SPG)

Imprint Wealth LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 69,288 shares of the real estate investment trust’s stock, valued at approximately $6,929,000.

Other institutional investors have also modified their holdings of the company. Tradition Wealth Management LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth $87,000. Raymond James Trust N.A. raised its holdings in shares of Simon Property Group by 4.0% during the 1st quarter. Raymond James Trust N.A. now owns 6,923 shares of the real estate investment trust’s stock worth $775,000 after acquiring an additional 269 shares during the period. CWM LLC increased its position in shares of Simon Property Group by 19.8% during the 2nd quarter. CWM LLC now owns 4,804 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 794 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Simon Property Group by 5.0% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,301 shares of the real estate investment trust’s stock worth $728,000 after purchasing an additional 302 shares during the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Simon Property Group by 30.9% during the 2nd quarter. AE Wealth Management LLC now owns 19,588 shares of the real estate investment trust’s stock worth $2,262,000 after purchasing an additional 4,621 shares during the last quarter. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Simon Property Group from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, August 29th. Stifel Nicolaus cut their price objective on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Truist Financial cut their price objective on Simon Property Group from $130.00 to $125.00 and set a “hold” rating for the company in a research report on Tuesday, August 29th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $128.90.

Insider Transactions at Simon Property Group

In related news, CFO Brian J. Mcdade acquired 359 shares of the stock in a transaction dated Friday, September 29th. The stock was acquired at an average cost of $109.19 per share, with a total value of $39,199.21. Following the completion of the transaction, the chief financial officer now owns 25,741 shares in the company, valued at approximately $2,810,659.79. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Brian J. Mcdade purchased 359 shares of the company’s stock in a transaction on Friday, September 29th. The shares were bought at an average cost of $109.19 per share, for a total transaction of $39,199.21. Following the completion of the purchase, the chief financial officer now directly owns 25,741 shares of the company’s stock, valued at approximately $2,810,659.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz purchased 580 shares of the company’s stock in a transaction on Friday, September 29th. The stock was bought at an average price of $110.04 per share, for a total transaction of $63,823.20. Following the completion of the purchase, the director now directly owns 49,727 shares of the company’s stock, valued at $5,471,959.08. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Down 0.7 %

Shares of Simon Property Group stock traded down $0.88 on Tuesday, reaching $121.87. 447,951 shares of the company were exchanged, compared to its average volume of 1,514,796. Simon Property Group, Inc. has a 1-year low of $100.17 and a 1-year high of $133.08. The company has a market cap of $39.76 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 6.91 and a beta of 1.58. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day moving average price is $111.17 and its 200-day moving average price is $112.84.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Thursday, December 7th. Simon Property Group’s dividend payout ratio is presently 112.59%.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.