B. Riley Wealth Advisors Inc. Reduces Stock Position in Simon Property Group, Inc. (NYSE:SPG)

B. Riley Wealth Advisors Inc. cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,646 shares of the real estate investment trust's stock after selling 2,423 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Simon Property Group were worth $800,000 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. bought a new position in Simon Property Group in the fourth quarter worth approximately $28,000. WR Wealth Planners LLC raised its position in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group in the fourth quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group in the fourth quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPG. JPMorgan Chase & Co. reduced their price objective on shares of 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. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on shares of 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 cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus target price of $179.20.

Simon Property Group Price Performance

SPG traded down $0.20 during trading on Monday, hitting $162.87. 1,155,701 shares of the company traded hands, compared to its average volume of 1,552,095. The company has a market cap of $53.16 billion, a PE ratio of 22.43, a P/E/G ratio of 10.10 and a beta of 1.43. The stock's 50-day simple moving average is $157.25 and its two-hundred day simple moving average is $169.69. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $3.56 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share 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. Investors of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.16%. Simon Property Group's payout ratio is 133.76%.

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.