B. Riley Wealth Advisors Inc. reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,406 shares of the real estate investment trust’s stock after selling 1,574 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Simon Property Group were worth $1,342,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. boosted its stake in shares of Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new stake in Simon Property Group during the fourth quarter valued at $41,000. Highlander Capital Management LLC grew its stake in Simon Property Group by 183.5% in the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Simon Property Group in the 4th quarter worth about $46,000. 93.01% of the stock is owned by hedge funds and other institutional investors.
Simon Property Group Price Performance
Shares of NYSE:SPG opened at $146.92 on Thursday. The firm has a market capitalization of $47.89 billion, a PE ratio of 18.72, a PEG ratio of 8.74 and a beta of 1.71. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $157.82. The business’s 50 day moving average is $146.75 and its 200-day moving average is $145.93.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $2.74 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.
Simon Property Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is 101.91%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on SPG shares. Scotiabank lifted their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley raised their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Argus boosted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.60.
Read Our Latest Stock Analysis on SPG
Simon Property Group Profile
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.
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