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

Integrated Wealth Concepts LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.5% during the 4th quarter, HoldingsChannel.com reports. 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 hedge funds and other institutional investors also recently bought and sold shares of the stock. Morse Asset Management Inc purchased a new stake in shares of Simon Property Group in the third quarter valued at $155,000. SkyView Investment Advisors LLC grew its holdings in Simon Property Group by 4.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 158 shares during the last quarter. World Investment Advisors LLC raised its position in Simon Property Group by 17.3% in the 3rd quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust’s stock worth $597,000 after purchasing an additional 521 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Simon Property Group in the third quarter worth about $834,000. Finally, Blankinship & Foster LLC purchased a new position in shares of Simon Property Group during the third quarter valued at approximately $608,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

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

Simon Property Group Trading Up 1.4 %

Shares of NYSE:SPG opened at $158.78 on Tuesday. The company has a market capitalization of $51.81 billion, a PE ratio of 21.87, a P/E/G ratio of 10.10 and a beta of 1.45. 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 12-month low of $136.34 and a 12-month high of $190.14. The business’s fifty day simple moving average is $163.19 and its 200-day simple moving average is $172.01.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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%. As a group, equities research analysts predict 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 disclosed 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. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.29%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Simon Property Group Company 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.