Wedbush Securities Inc. Trims Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Wedbush Securities Inc. trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,225 shares of the real estate investment trust’s stock after selling 127 shares during the period. Wedbush Securities Inc.’s holdings in Simon Property Group were worth $728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Pitcairn Co. raised its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 55 shares during the period. Childress Capital Advisors LLC boosted its holdings in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares during the period. Global X Japan Co. Ltd. boosted its holdings in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares during the period. HighPoint Advisor Group LLC grew its position in Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after acquiring an additional 60 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Simon Property Group by 1.0% during the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $143.18 on Tuesday. 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 52-week low of $138.11 and a 52-week high of $190.14. The stock has a 50 day moving average price of $173.36 and a 200 day moving average price of $174.23. The company has a market capitalization of $46.72 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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 predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.87%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group 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.