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

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,660 shares of the real estate investment trust's stock after purchasing an additional 6,293 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Simon Property Group were worth $4,074,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. grew its stake in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after acquiring an additional 3,990 shares during the period. Brighton Jones LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $295,000. Allworth Financial LP grew its position in Simon Property Group by 140.6% in the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust's stock valued at $545,000 after purchasing an additional 1,842 shares during the period. Clientfirst Wealth Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at $274,000. Finally, Principal Securities Inc. raised its holdings in Simon Property Group by 4.2% during the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock worth $713,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

NYSE:SPG traded down $0.94 during trading hours on Thursday, reaching $160.69. The stock had a trading volume of 1,065,837 shares, compared to its average volume of 1,548,832. The stock has a market cap of $52.45 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock has a 50 day simple moving average of $157.12 and a 200 day simple moving average of $169.58. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.56 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed 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. This represents a $8.40 annualized dividend and a yield of 5.23%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of analyst reports. 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 report on Wednesday, April 23rd. Stifel Nicolaus boosted their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Piper Sandler dropped their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Six equities 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, the company currently has an average rating of "Hold" and a consensus target price 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.