Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 17,524 shares of the real estate investment trust’s stock after selling 1,807 shares during the period. Atria Wealth Solutions Inc.’s holdings in Simon Property Group were worth $3,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Signaturefd LLC raised its stake in shares of Simon Property Group by 9.7% in the 3rd quarter. Signaturefd LLC now owns 5,471 shares of the real estate investment trust’s stock worth $925,000 after buying an additional 486 shares in the last quarter. Eastern Bank bought a new stake in Simon Property Group in the third quarter worth about $42,000. International Assets Investment Management LLC lifted its holdings in Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after acquiring an additional 887,356 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Simon Property Group by 29.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock valued at $1,389,000 after purchasing an additional 1,871 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Simon Property Group by 8.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after purchasing an additional 607 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms recently commented on SPG. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $175.10.

Simon Property Group Stock Performance

Shares of SPG stock opened at $183.86 on Friday. The company has a market capitalization of $59.99 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 10.05 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $188.13. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock’s fifty day simple moving average is $176.37 and its 200-day simple moving average is $172.60.

Simon Property Group (NYSE:SPG) last released its 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%. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.57%. Simon Property Group’s dividend payout ratio is presently 115.70%.

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.