Arete Wealth Advisors LLC Has $492,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Arete Wealth Advisors LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,856 shares of the real estate investment trust’s stock after selling 476 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Simon Property Group were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SPG. Hopwood Financial Services Inc. acquired a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC lifted its holdings 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 in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the fourth quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group during the fourth quarter valued at $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed 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 for the company. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Stock Down 4.6 %

Simon Property Group stock opened at $146.15 on Friday. 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 1-year low of $139.25 and a 1-year high of $190.14. The firm’s fifty day simple moving average is $174.03 and its 200-day simple moving average is $174.33. 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 (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 return on equity of 74.02% and a net margin of 41.49%. 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.75%. Simon Property Group’s dividend payout ratio (DPR) is currently 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.