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

Atria Wealth Solutions Inc. decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,409 shares of the real estate investment trust’s stock after selling 7,368 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Simon Property Group were worth $2,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Simon Property Group by 6.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,817 shares of the real estate investment trust’s stock valued at $8,839,000 after purchasing an additional 4,900 shares during the period. Edmp Inc. raised its position in Simon Property Group by 34.0% in the third quarter. Edmp Inc. now owns 2,696 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 684 shares during the period. Financial Management Network Inc. raised its position in Simon Property Group by 1.0% in the third quarter. Financial Management Network Inc. now owns 18,539 shares of the real estate investment trust’s stock valued at $1,936,000 after purchasing an additional 178 shares during the period. Raymond James & Associates raised its position in Simon Property Group by 1.2% in the third quarter. Raymond James & Associates now owns 233,143 shares of the real estate investment trust’s stock valued at $25,186,000 after purchasing an additional 2,785 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in Simon Property Group by 8.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 58,386 shares of the real estate investment trust’s stock valued at $6,307,000 after purchasing an additional 4,739 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $142.36 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. The firm has a fifty day moving average price of $149.04 and a 200 day moving average price of $137.23. The company has a market cap of $46.40 billion, a P/E ratio of 20.40, a PEG ratio of 7.47 and a beta of 1.65. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $157.82.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.15 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group declared that its board has initiated a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.48%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is presently 111.75%.

Analysts Set New Price Targets

SPG has been the topic of a number of recent research reports. Evercore ISI upped their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Truist Financial upped their price objective on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley upped their price objective on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $140.22.

About Simon Property Group

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.