Mission Wealth Management LP Has $340,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

Mission Wealth Management LP increased its position in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,974 shares of the real estate investment trust’s stock after purchasing an additional 157 shares during the period. Mission Wealth Management LP’s holdings in Simon Property Group were worth $340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC boosted its stake in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter worth approximately $30,000. Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Finally, Synergy Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.1 %

Simon Property Group stock opened at $183.49 on Thursday. The company has a market capitalization of $59.87 billion, a P/E ratio of 25.27, a P/E/G ratio of 10.10 and a beta of 1.78. The firm’s fifty day simple moving average is $178.03 and its 200-day simple moving average is $174.32. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its 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%. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed 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. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $178.44.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

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.