RWA Wealth Partners LLC Acquires Shares of 39,480 Simon Property Group, Inc. (NYSE:SPG)

RWA Wealth Partners LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,480 shares of the real estate investment trust’s stock, valued at approximately $6,799,000.

Several other large investors have also made changes to their positions in SPG. Norges Bank acquired a new stake in Simon Property Group in the fourth quarter worth about $2,059,505,000. Hamlin Capital Management LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth approximately $109,403,000. KBC Group NV raised its stake in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock worth $151,597,000 after buying an additional 554,605 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after buying an additional 539,893 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in Simon Property Group by 17,222.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 476,530 shares of the real estate investment trust’s stock valued at $82,063,000 after acquiring an additional 473,779 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.0 %

Simon Property Group stock opened at $164.21 on Monday. The company has a 50 day moving average of $175.42 and a 200-day moving average of $174.53. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The stock has a market capitalization of $53.58 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

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%. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.33.

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.