New Insight Wealth Advisors Has $5.77 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

New Insight Wealth Advisors decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,474 shares of the real estate investment trust’s stock after selling 3,461 shares during the period. Simon Property Group makes up 2.9% of New Insight Wealth Advisors’ holdings, making the stock its 12th biggest position. New Insight Wealth Advisors’ holdings in Simon Property Group were worth $5,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. WR Wealth Planners LLC raised its stake in Simon Property Group by 328.2% in the 4th 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 in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Simon Property Group during the third quarter worth approximately $30,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Simon Property Group during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SPG shares. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. 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. Mizuho upped 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Stock Down 2.0 %

Shares of SPG opened at $170.97 on Monday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a market capitalization of $55.78 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78. The stock has a fifty day moving average of $178.03 and a 200-day moving average of $174.60.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share 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. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was acquired 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 approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

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.