Avantax Advisory Services Inc. Raises Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Avantax Advisory Services Inc. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,504 shares of the real estate investment trust’s stock after buying an additional 1,486 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Simon Property Group were worth $2,498,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after purchasing an additional 64,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of Simon Property Group by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after purchasing an additional 88,378 shares during the last quarter. Amundi increased its position in shares of Simon Property Group by 10.5% during the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock valued at $301,088,000 after purchasing an additional 163,764 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Simon Property Group by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after purchasing an additional 98,366 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.0 %

SPG stock opened at $161.13 on Monday. 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. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 22.19, a PEG 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 $174.48.

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

Simon Property Group Dividend Announcement

The firm 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 is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.21%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Piper Sandler raised shares of 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 report on Wednesday, February 5th. Finally, Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $180.33.

Insider Activity

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.