Arkadios Wealth Advisors Invests $397,000 in Simon Property Group, Inc. (NYSE:SPG)

Key Points

• Arkadios Wealth Advisors has invested approximately $397,000 in Simon Property Group, acquiring 2,389 shares of the real estate investment trust.
• Simon Property Group reported a net margin of 36.78% and a revenue of $1.50 billion for the quarter, exceeding the consensus estimate.
• The company recently announced a quarterly dividend increase to $2.15 per share, reflecting an annualized yield of 5.1%.

Arkadios Wealth Advisors acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,389 shares of the real estate investment trust's stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of 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 valued at $553,000 after acquiring an additional 789 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $295,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Simon Property Group in the first quarter valued at about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Simon Property Group by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after buying an additional 4,589 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.8%

Shares of Simon Property Group stock traded down $1.29 during trading on Thursday, reaching $166.24. 1,399,453 shares of the company traded hands, compared to its average volume of 1,640,122. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a 50 day moving average price of $162.34 and a 200-day moving average price of $165.04. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.45. The firm has a market capitalization of $54.26 billion, a PE ratio of 25.69, a P/E/G ratio of 11.34 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group's revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.90 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio is currently 132.92%.

Insider Activity at Simon Property Group

In other news, Director Gary M. Rodkin acquired 246 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares of the company's stock, valued at $3,028,102.90. This represents a 1.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the acquisition, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,386 shares of company stock valued at $380,066 over the last 90 days. Company insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Stifel Nicolaus set a $179.00 price objective on shares of Simon Property Group and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $182.64.

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.