Atria Wealth Solutions Inc. Sells 7,368 Shares of Simon Property Group, Inc. (NYSE:SPG)

Atria Wealth Solutions Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,409 shares of the real estate investment trust's stock after selling 7,368 shares during the period. Atria Wealth Solutions Inc.'s holdings in Simon Property Group were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Northern Trust Corp raised its holdings in Simon Property Group by 1.9% in the 3rd quarter. Northern Trust Corp now owns 4,745,198 shares of the real estate investment trust's stock valued at $512,624,000 after buying an additional 86,778 shares during the period. Charles Schwab Investment Management Inc. raised its position in Simon Property Group by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,465,010 shares of the real estate investment trust's stock valued at $374,325,000 after purchasing an additional 40,630 shares during the last quarter. Invesco Ltd. boosted its stake in Simon Property Group by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,409,189 shares of the real estate investment trust's stock worth $260,265,000 after purchasing an additional 71,751 shares during the period. Principal Financial Group Inc. grew its position in Simon Property Group by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,128,104 shares of the real estate investment trust's stock worth $229,897,000 after purchasing an additional 26,491 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Simon Property Group by 5.9% in the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust's stock valued at $203,866,000 after purchasing an additional 105,606 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research reports. Evercore ISI raised their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an "in-line" rating in a report on Wednesday, February 28th. Truist Financial boosted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a "hold" rating in a report on Friday, March 22nd. Morgan Stanley increased their price target on Simon Property Group from $143.00 to $145.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Finally, StockNews.com upgraded Simon Property Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.22.

Simon Property Group Price Performance

Shares of SPG stock traded up $2.46 during mid-day trading on Monday, reaching $144.82. The stock had a trading volume of 1,110,951 shares, compared to its average volume of 1,474,205. The company has a market cap of $47.20 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 7.47 and a beta of 1.65. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group, Inc. has a 12-month low of $100.17 and a 12-month high of $157.82. The business has a 50-day simple moving average of $148.94 and a 200 day simple moving average of $137.49.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The business's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.15 earnings per share. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. The ex-dividend date was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.39%. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. Simon Property Group's dividend payout ratio (DPR) is presently 111.75%.

Simon Property Group declared that its board has approved a share buyback plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Simon Property Group Profile

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.