New Insight Wealth Advisors Sells 3,461 Shares of Simon Property Group, Inc. (NYSE:SPG)

New Insight Wealth Advisors cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,474 shares of the real estate investment trust’s stock after selling 3,461 shares during the period. Simon Property Group comprises approximately 2.9% of New Insight Wealth Advisors’ holdings, making the stock its 12th largest position. New Insight Wealth Advisors’ holdings in Simon Property Group were worth $5,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. WR Wealth Planners LLC grew its stake in 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 worth $29,000 after purchasing an additional 128 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $30,000. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Mizuho raised their price target 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. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $198.00 in a research 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. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Stock Down 2.0 %

SPG stock opened at $170.97 on Monday. The firm has a market capitalization of $55.78 billion, a PE ratio of 23.55, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $190.14. The stock’s 50 day moving average is $178.03 and its 200-day moving average is $174.60.

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 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 expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

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.