U S Wealth Group LLC. Makes New $2.47 Million Investment in Simon Property Group, Inc. (NYSE:SPG)

U S Wealth Group LLC. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,329 shares of the real estate investment trust’s stock, valued at approximately $2,468,000. Simon Property Group makes up about 1.9% of U S Wealth Group LLC.’s holdings, making the stock its 19th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after acquiring an additional 542,511 shares during the period. Unigestion Holding SA raised its stake in Simon Property Group by 875.3% in the 4th quarter. Unigestion Holding SA now owns 37,794 shares of the real estate investment trust’s stock worth $6,509,000 after purchasing an additional 33,919 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Simon Property Group by 20.7% in the 4th quarter. Federated Hermes Inc. now owns 45,859 shares of the real estate investment trust’s stock valued at $7,897,000 after purchasing an additional 7,865 shares during the period. Waterloo Capital L.P. grew its position in shares of Simon Property Group by 0.5% during the 4th quarter. Waterloo Capital L.P. now owns 21,989 shares of the real estate investment trust’s stock worth $3,787,000 after purchasing an additional 101 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Simon Property Group by 4.5% during the fourth quarter. Russell Investments Group Ltd. now owns 1,493,987 shares of the real estate investment trust’s stock worth $257,241,000 after purchasing an additional 64,802 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 4.6 %

NYSE:SPG opened at $146.15 on Monday. 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, Inc. has a one year low of $137.35 and a one year high of $190.14. The firm’s 50 day simple moving average is $174.03 and its 200 day simple moving average is $174.40. The company has a market cap of $47.68 billion, a PE ratio of 20.13, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the subject of several recent research reports. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.33.

Simon Property Group Company 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.