Integrated Wealth Concepts LLC Sells 387 Shares of Simon Property Group, Inc. (NYSE:SPG)

Integrated Wealth Concepts LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,526 shares of the real estate investment trust’s stock after selling 387 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Simon Property Group were worth $1,813,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its position in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group during the fourth quarter valued at about $30,000. Caisse Des Depots ET Consignations purchased a new stake in Simon Property Group in the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 1.4 %

Shares of Simon Property Group stock opened at $158.78 on Tuesday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business has a 50-day moving average price of $163.19 and a 200-day moving average price of $172.01. The firm has a market cap of $51.81 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 10.10 and a beta of 1.45.

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

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank cut their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target on the stock in a report on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.39.

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.