Atria Wealth Solutions Inc. Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

Atria Wealth Solutions Inc. cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,524 shares of the real estate investment trust’s stock after selling 1,807 shares during the period. Atria Wealth Solutions Inc.’s holdings in Simon Property Group were worth $3,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Simon Property Group in the 3rd quarter valued at approximately $30,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the fourth quarter worth $41,000. Synergy Asset Management LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $41,000. Eastern Bank bought a new position in Simon Property Group during the 3rd quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Simon Property Group during the 4th quarter worth $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Trading Down 1.5 %

NYSE:SPG opened at $183.86 on Friday. Simon Property Group, Inc. has a 12-month low of $139.25 and a 12-month high of $188.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business has a 50 day simple moving average of $176.37 and a 200 day simple moving average of $172.60. The firm has a market capitalization of $59.99 billion, a P/E ratio of 25.32, a P/E/G ratio of 10.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.57%. Simon Property Group’s payout ratio is currently 115.70%.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the firm’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 acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

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.