B. Riley Wealth Advisors Inc. Sells 1,574 Shares of Simon Property Group, Inc. (NYSE:SPG)

B. Riley Wealth Advisors Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 14.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,406 shares of the real estate investment trust’s stock after selling 1,574 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Simon Property Group were worth $1,342,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its holdings in shares of Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Simon Property Group in the fourth quarter valued at about $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Simon Property Group during the 4th quarter worth about $41,000. Highlander Capital Management LLC boosted its holdings in shares of Simon Property Group by 183.5% during the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 200 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Simon Property Group in the 4th quarter valued at about $46,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Simon Property Group stock opened at $146.92 on Thursday. The stock’s fifty day moving average price is $146.75 and its two-hundred day moving average price is $145.93. The firm has a market cap of $47.89 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 8.74 and a beta of 1.71. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $157.82. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPG shares. Scotiabank upped their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Argus boosted their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Morgan Stanley raised their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Evercore ISI increased their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $147.60.

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.