Simon Property Group, Inc. (NYSE:SPG) Position Increased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,980 shares of the real estate investment trust’s stock after acquiring an additional 1,574 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Simon Property Group were worth $1,718,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter worth about $2,561,181,000. International Assets Investment Management LLC boosted its position in Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares during the period. Vanguard Group Inc. grew its holdings in Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after purchasing an additional 667,034 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after buying an additional 469,855 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Argus raised their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Scotiabank boosted their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

Simon Property Group Stock Performance

Simon Property Group stock traded down $1.37 during trading hours on Wednesday, hitting $153.44. The stock had a trading volume of 1,767,852 shares, compared to its average volume of 1,468,904. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $158.50. The company has a market cap of $50.01 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 8.88 and a beta of 1.75. The company has a 50-day moving average of $149.93 and a two-hundred day moving average of $147.92. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.74 earnings per share. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is 101.91%.

Simon Property Group Company Profile

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.