Atria Wealth Solutions Inc. Has $2.89 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Atria Wealth Solutions Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPGFree Report) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,777 shares of the real estate investment trust’s stock after selling 490 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Simon Property Group were worth $2,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in shares of Simon Property Group during the 3rd quarter worth about $25,000. DT Investment Partners LLC increased its position in Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Nemes Rush Group LLC bought a new stake in Simon Property Group in the second quarter valued at approximately $26,000. Selway Asset Management bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $26,000. Finally, Financial Freedom LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $27,000. 84.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SPG. Piper Sandler raised their price target on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Truist Financial lifted their target price on shares of Simon Property Group from $128.00 to $139.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. The Goldman Sachs Group increased their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, December 21st. Morgan Stanley downgraded Simon Property Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $132.00 to $143.00 in a research report on Thursday, December 21st. Finally, Stifel Nicolaus lowered their target price on Simon Property Group from $139.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.75.

Check Out Our Latest Stock Analysis on Simon Property Group

Simon Property Group Price Performance

Simon Property Group stock opened at $146.93 on Friday. The firm has a market cap of $47.94 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 6.92 and a beta of 1.65. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 0.94. The stock’s fifty day moving average price is $141.16 and its two-hundred day moving average price is $123.74. Simon Property Group, Inc. has a one year low of $100.17 and a one year high of $147.37.

Simon Property Group (NYSE:SPGGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business posted $3.15 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be given a dividend of $1.95 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.90. The ex-dividend date is Thursday, March 7th. This represents a $7.80 annualized dividend and a dividend yield of 5.31%. Simon Property Group’s dividend payout ratio (DPR) is currently 108.88%.

Simon Property Group Company Profile

(Free Report)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

See Also

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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