Congress Wealth Management LLC DE Sells 814 Shares of Simon Property Group, Inc. (NYSE:SPG)

Congress Wealth Management LLC DE decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 25.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,362 shares of the real estate investment trust’s stock after selling 814 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Simon Property Group were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Simon Property Group by 2.0% during the fourth quarter. LPL Financial LLC now owns 358,414 shares of the real estate investment trust’s stock valued at $61,723,000 after purchasing an additional 7,087 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $30,764,000. Sei Investments Co. boosted its holdings in Simon Property Group by 5.4% in the 4th quarter. Sei Investments Co. now owns 1,128,143 shares of the real estate investment trust’s stock worth $194,279,000 after buying an additional 57,800 shares during the period. American Century Companies Inc. grew its stake in Simon Property Group by 64.1% in the 4th quarter. American Century Companies Inc. now owns 685,493 shares of the real estate investment trust’s stock valued at $118,049,000 after buying an additional 267,661 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Simon Property Group by 46.3% during the 4th quarter. Mizuho Securities USA LLC now owns 29,068 shares of the real estate investment trust’s stock valued at $5,006,000 after acquiring an additional 9,195 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $164.21 on Friday. Simon Property Group, Inc. has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market cap of $53.58 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm’s fifty day moving average price is $175.42 and its 200-day moving average price is $174.37.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced 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. This represents a $8.40 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised 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. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Mizuho upped 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 equities research analysts have rated the stock with a hold rating and four have given 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 price target of $180.33.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Company 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.