Steward Partners Investment Advisory LLC Sells 782 Shares of Simon Property Group, Inc. (NYSE:SPG)

Steward Partners Investment Advisory LLC lessened its position in Simon Property Group, Inc. (NYSE:SPG) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,442 shares of the real estate investment trust’s stock after selling 782 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Simon Property Group were worth $2,143,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. WR Wealth Planners LLC grew its holdings in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the 4th quarter worth $30,000. Capital Performance Advisors LLP bought a new stake in Simon Property Group in the 3rd quarter worth $30,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group in the 4th quarter worth $41,000. Finally, Synergy Asset Management LLC bought a new stake in Simon Property Group in the 4th quarter worth $41,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 2.0 %

Shares of NYSE SPG opened at $170.97 on Friday. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The stock has a market cap of $55.78 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm has a 50-day moving average of $178.03 and a 200 day moving average of $174.50. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPG shares. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $178.44.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.