Simon Property Group, Inc. (NYSE:SPG) Stock Position Decreased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,856 shares of the real estate investment trust’s stock after selling 476 shares during the period. Arete Wealth Advisors LLC’s holdings in Simon Property Group were worth $492,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its position in Simon Property Group by 389.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,897 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 3,897 shares during the period. Holocene Advisors LP bought a new stake in Simon Property Group in the third quarter valued at $1,902,000. Integrated Wealth Concepts LLC lifted its stake in Simon Property Group by 35.7% in the third quarter. Integrated Wealth Concepts LLC now owns 10,913 shares of the real estate investment trust’s stock valued at $1,845,000 after buying an additional 2,870 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Simon Property Group by 29.6% in the third quarter. IHT Wealth Management LLC now owns 5,270 shares of the real estate investment trust’s stock valued at $891,000 after buying an additional 1,204 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of Simon Property Group during the third quarter valued at $155,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 4.6 %

SPG opened at $146.15 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market capitalization of $47.68 billion, a PE ratio of 20.13, a P/E/G ratio of 10.10 and a beta of 1.45. The stock’s fifty day moving average is $174.03 and its 200-day moving average is $174.33. Simon Property Group, Inc. has a one year low of $139.25 and a one year high of $190.14.

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

Simon Property Group Announces Dividend

The firm also recently announced 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 annualized dividend 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

Several brokerages recently weighed in on SPG. 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 upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Piper Sandler raised 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. Finally, Scotiabank set a $186.00 price target on Simon Property Group in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.33.

Simon Property Group 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.