EverSource Wealth Advisors LLC Increases Stake in Simon Property Group, Inc. (NYSE:SPG)

EverSource Wealth Advisors LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,029 shares of the real estate investment trust’s stock after acquiring an additional 107 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Simon Property Group were worth $349,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% during 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 in the last quarter. New England Capital Financial Advisors LLC purchased a new position in Simon Property Group during the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in Simon Property Group in the 4th quarter worth approximately $41,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group in the 4th quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth approximately $45,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPG shares. Jefferies Financial Group raised shares of 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Scotiabank set a $186.00 target price on shares of 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 research report on Saturday, March 8th. Finally, Mizuho upped their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Stock Up 1.0 %

Shares of NYSE:SPG opened at $161.13 on Friday. The firm has a market capitalization of $52.57 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The business has a 50 day simple moving average of $177.03 and a two-hundred day simple moving average of $174.43. Simon Property Group, Inc. has a 1 year low of $139.25 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 data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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 analysts predict 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. Investors of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is currently owned by insiders.

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.