New Insight Wealth Advisors Sells 3,461 Shares of Simon Property Group, Inc. (NYSE:SPG)

New Insight Wealth Advisors decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,474 shares of the real estate investment trust's stock after selling 3,461 shares during the quarter. Simon Property Group comprises about 2.9% of New Insight Wealth Advisors' portfolio, making the stock its 12th biggest holding. New Insight Wealth Advisors' holdings in Simon Property Group were worth $5,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. First Hawaiian Bank increased its position in shares of Simon Property Group by 35.0% during the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Simon Property Group by 72.8% during the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust's stock worth $172,000 after purchasing an additional 421 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $416,000. Institutional investors and hedge funds own 93.01% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPG. Scotiabank set a $186.00 target price on Simon Property Group in a report on Friday, February 28th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $180.33.

Simon Property Group Stock Performance

NYSE SPG traded up $2.47 on Wednesday, reaching $165.95. The stock had a trading volume of 1,951,062 shares, compared to its average volume of 1,338,635. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a fifty day moving average of $177.62 and a two-hundred day moving average of $174.54. Simon Property Group, Inc. has a 1-year low of $139.25 and a 1-year high of $190.14. The company has a market cap of $54.15 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS 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 anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. Simon Property Group's payout ratio is 115.70%.

Insider Activity

In related news, Director Reuben S. Leibowitz bought 465 shares of the business's stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company's stock.

Simon Property Group 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.