U S Wealth Group LLC. Makes New $2.47 Million Investment in Simon Property Group, Inc. (NYSE:SPG)

U S Wealth Group LLC. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,329 shares of the real estate investment trust’s stock, valued at approximately $2,468,000. Simon Property Group makes up approximately 1.9% of U S Wealth Group LLC.’s holdings, making the stock its 19th largest holding.

A number of other large investors also recently modified their holdings of the company. Pitcairn Co. raised its holdings in Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 55 shares during the last quarter. Childress Capital Advisors LLC raised its holdings in shares of Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in Simon Property Group by 9.9% in 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 in the last quarter. HighPoint Advisor Group LLC lifted 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 boosted its stake in Simon Property Group by 1.0% during the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 62 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 4.6 %

Shares of SPG opened at $146.15 on Monday. The firm’s 50 day simple moving average is $174.03 and its 200 day simple moving average is $174.40. The company has a market capitalization of $47.68 billion, a P/E ratio of 20.13, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 1-year low of $137.35 and a 1-year high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPG. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.