Kingsview Wealth Management LLC Has $252,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Kingsview Wealth Management LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,488 shares of the real estate investment trust’s stock after selling 151 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Simon Property Group were worth $252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SPG. Tidal Investments LLC lifted its position in shares of Simon Property Group by 19.5% during the 1st quarter. Tidal Investments LLC now owns 12,849 shares of the real estate investment trust’s stock worth $2,006,000 after buying an additional 2,099 shares during the period. Atria Investments Inc lifted its holdings in shares of Simon Property Group by 6.0% during the first quarter. Atria Investments Inc now owns 27,651 shares of the real estate investment trust’s stock valued at $4,327,000 after acquiring an additional 1,554 shares during the period. Burney Co. acquired a new stake in shares of Simon Property Group in the 1st quarter valued at $210,000. Cetera Investment Advisers grew its holdings in shares of Simon Property Group by 145.4% in the 1st quarter. Cetera Investment Advisers now owns 62,605 shares of the real estate investment trust’s stock worth $9,797,000 after purchasing an additional 37,093 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in shares of Simon Property Group by 210.5% during the 1st quarter. Cetera Advisors LLC now owns 19,936 shares of the real estate investment trust’s stock worth $3,120,000 after purchasing an additional 13,515 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.0 %

NYSE SPG opened at $183.71 on Friday. The stock has a market capitalization of $59.94 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 10.73 and a beta of 1.74. Simon Property Group, Inc. has a 52 week low of $122.50 and a 52 week high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a fifty day moving average of $174.30 and a 200-day moving average of $161.30.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $3.20 earnings per share. Simon Property Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.78 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio is currently 109.19%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho increased their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $162.78.

About Simon Property Group

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.