Wealth Enhancement Advisory Services LLC Increases Stake in Simon Property Group, Inc. (NYSE:SPG)

Wealth Enhancement Advisory Services LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 36.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,660 shares of the real estate investment trust’s stock after acquiring an additional 6,293 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Simon Property Group were worth $4,074,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC boosted its holdings 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 buying an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group in the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations bought a new stake in Simon Property Group during the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.6%

Shares of SPG stock opened at $161.96 on Wednesday. The business has a 50-day moving average price of $157.17 and a two-hundred day moving average price of $169.64. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market cap of $52.87 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $3.56 EPS. Simon Property Group’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Analyst Ratings Changes

A number of research firms have recently commented on SPG. Scotiabank cut their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler decreased their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $179.20.

About Simon Property Group

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.