New Insight Wealth Advisors Has $5.57 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

New Insight Wealth Advisors raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,550 shares of the real estate investment trust’s stock after buying an additional 76 shares during the quarter. Simon Property Group comprises 2.5% of New Insight Wealth Advisors’ investment portfolio, making the stock its 11th largest holding. New Insight Wealth Advisors’ holdings in Simon Property Group were worth $5,572,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter worth approximately $28,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group in the fourth quarter valued at $31,000. Continuum Advisory LLC raised its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at $34,000. Finally, Colonial Trust Co SC raised its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 57 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPG. Wall Street Zen lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price for the company. JPMorgan Chase & Co. cut their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $178.50.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 246 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director owned 19,010 shares of the company’s stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stefan M. Selig purchased 219 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the purchase, the director directly owned 31,881 shares of the company’s stock, valued at $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,386 shares of company stock valued at $380,066. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of SPG stock opened at $163.48 on Wednesday. The stock’s fifty day moving average is $161.11 and its 200-day moving average is $166.29. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $53.36 billion, a PE ratio of 26.03, a PEG ratio of 9.20 and a beta of 1.43. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.56 earnings per share. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group’s payout ratio is presently 133.76%.

Simon Property Group Company 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.