Wipfli Financial Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,376 shares of the real estate investment trust’s stock, valued at approximately $213,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. JFS Wealth Advisors LLC lifted its holdings in shares of Simon Property Group by 3,000.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 310 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 300 shares during the period. Ronald Blue Trust Inc. boosted its position in Simon Property Group by 291.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 352 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 262 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $37,000. MV Capital Management Inc. grew its stake in shares of Simon Property Group by 35.8% during the 3rd quarter. MV Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 122 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Simon Property Group by 70.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 192 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.
Simon Property Group Trading Up 1.2 %
Shares of Simon Property Group stock opened at $118.87 on Friday. Simon Property Group, Inc. has a 1-year low of $86.02 and a 1-year high of $164.24. The company has a debt-to-equity ratio of 7.17, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $38.86 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.58 and a beta of 1.48. The stock’s 50 day simple moving average is $117.30 and its 200-day simple moving average is $106.70.
Simon Property Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were paid a $1.80 dividend. The ex-dividend date was Thursday, December 8th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 dividend on an annualized basis and a dividend yield of 6.06%. Simon Property Group’s dividend payout ratio (DPR) is 120.20%.
Analyst Upgrades and Downgrades
SPG has been the topic of several analyst reports. StockNews.com assumed coverage on shares of Simon Property Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Evercore ISI cut their price target on Simon Property Group to $114.00 in a research note on Thursday, October 20th. Piper Sandler lowered their price target on Simon Property Group from $130.00 to $123.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. Wolfe Research started coverage on Simon Property Group in a report on Tuesday, October 18th. They issued a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $128.17.
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.
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