Avantax Advisory Services Inc. Buys 1,486 Shares of Simon Property Group, Inc. (NYSE:SPG)

Avantax Advisory Services Inc. increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,504 shares of the real estate investment trust’s stock after acquiring an additional 1,486 shares during the period. Avantax Advisory Services Inc.’s holdings in Simon Property Group were worth $2,498,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Truvestments Capital LLC lifted its position in Simon Property Group by 1.7% in the fourth quarter. Truvestments Capital LLC now owns 23,354 shares of the real estate investment trust’s stock worth $4,022,000 after buying an additional 396 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in Simon Property Group in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC lifted its position in Simon Property Group by 5.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 107 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Simon Property Group by 30.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,812 shares of the real estate investment trust’s stock worth $1,001,000 after buying an additional 1,354 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Simon Property Group by 4.7% in the fourth quarter. HighTower Advisors LLC now owns 935,479 shares of the real estate investment trust’s stock worth $161,099,000 after buying an additional 42,068 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $161.13 on Monday. The firm has a market cap of $52.57 billion, a P/E ratio of 22.19, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 12 month low of $139.25 and a 12 month high of $190.14. The stock’s fifty day moving average price is $177.03 and its 200-day moving average price is $174.48.

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%. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded 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 research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.33.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 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, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.

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.