Mission Wealth Management LP Has $340,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

Mission Wealth Management LP grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,974 shares of the real estate investment trust’s stock after buying an additional 157 shares during the period. Mission Wealth Management LP’s holdings in Simon Property Group were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WR Wealth Planners LLC grew its position in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group during the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at about $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group during the 4th quarter valued at about $41,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.1 %

Shares of SPG stock opened at $183.49 on Thursday. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $190.14. The company has a market capitalization of $59.87 billion, a P/E ratio of 25.27, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a 50-day moving average price of $178.03 and a 200 day moving average price of $174.32.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts forecast 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, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analyst Ratings Changes

Several analysts have recently weighed in on SPG shares. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $178.44.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

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.