Elevation Wealth Partners LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Elevation Wealth Partners LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,819 shares of the real estate investment trust’s stock after selling 200 shares during the period. Elevation Wealth Partners LLC’s holdings in Simon Property Group were worth $313,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its position in Simon Property Group by 3.3% in the third quarter. CWM LLC now owns 9,382 shares of the real estate investment trust’s stock worth $1,586,000 after purchasing an additional 302 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Simon Property Group by 7.1% in the 3rd quarter. UMB Bank n.a. now owns 2,325 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 154 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Simon Property Group by 433.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,954 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 2,400 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Simon Property Group by 1.4% during the third quarter. Valeo Financial Advisors LLC now owns 9,444 shares of the real estate investment trust’s stock valued at $1,596,000 after buying an additional 130 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Simon Property Group by 12.9% in the third quarter. Ritholtz Wealth Management now owns 9,851 shares of the real estate investment trust’s stock worth $1,665,000 after acquiring an additional 1,128 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG opened at $180.01 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market capitalization of $58.73 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 9.58 and a beta of 1.74. The company has a fifty day moving average of $175.50 and a 200 day moving average of $170.44. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share 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. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPG. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

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.