Triad Wealth Partners LLC Acquires Shares of 1,400 Simon Property Group, Inc. (NYSE:SPG)

Triad Wealth Partners LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,400 shares of the real estate investment trust’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at about $30,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho boosted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. 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 report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Moderate Buy” and an average price target of $178.44.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.49 on Thursday. 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 firm has a market capitalization of $59.87 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 10.10 and a beta of 1.78. The company’s 50-day moving average is $178.03 and its two-hundred day moving average is $174.32. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14.

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

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 (DPR) is 115.70%.

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.