United Capital Financial Advisors LLC Has $2.31 Million Position in Simon Property Group, Inc. (NYSE:SPG)

United Capital Financial Advisors LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,400 shares of the real estate investment trust’s stock after selling 1,919 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Simon Property Group were worth $2,308,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group during the third quarter worth $834,000. First Hawaiian Bank raised its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 1,372 shares during the period. Versant Capital Management Inc lifted its position in Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $416,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

NYSE:SPG opened at $150.31 on Friday. The firm has a market cap of $49.04 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. 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 12 month low of $136.34 and a 12 month high of $190.14. The company’s 50-day moving average price is $167.64 and its two-hundred day moving average price is $172.71.

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 (EPS) 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%. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.59%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

SPG has been the subject of several 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 company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target on the stock in a research report on Wednesday, April 9th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.39.

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.