Mission Wealth Management LP Has $295,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Mission Wealth Management LP reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,776 shares of the real estate investment trust’s stock after selling 198 shares during the period. Mission Wealth Management LP’s holdings in Simon Property Group were worth $295,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $295,000. Farther Finance Advisors LLC grew its holdings in Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 789 shares during the period. Allworth Financial LP grew its holdings in Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock worth $545,000 after acquiring an additional 1,842 shares during the period. Principal Securities Inc. grew its holdings in Simon Property Group by 4.2% during the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock worth $713,000 after acquiring an additional 166 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Simon Property Group by 7.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock valued at $62,322,000 after buying an additional 25,987 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock opened at $156.97 on Thursday. The company has a market capitalization of $51.24 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 8.76 and a beta of 1.47. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The business has a 50-day simple moving average of $158.31 and a two-hundred day simple moving average of $168.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned $3.56 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.35%. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Stifel Nicolaus raised their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Scotiabank raised their target price on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Mizuho reduced their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $179.44.

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.