IFP Advisors Inc Acquires 159 Shares of Simon Property Group, Inc. (NYSE:SPG)

IFP Advisors Inc increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,735 shares of the real estate investment trust’s stock after purchasing an additional 159 shares during the period. IFP Advisors Inc’s holdings in Simon Property Group were worth $643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after purchasing an additional 2,746,503 shares during the period. Smead Capital Management Inc. increased its position in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock valued at $442,892,000 after purchasing an additional 88,378 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Simon Property Group by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the period. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,376,194 shares of the real estate investment trust’s stock valued at $236,995,000 after purchasing an additional 98,366 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Simon Property Group stock opened at $186.13 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market cap of $60.73 billion, a P/E ratio of 25.64, a P/E/G ratio of 10.10 and a beta of 1.74. The business’s fifty day moving average is $177.31 and its two-hundred day moving average is $173.62. Simon Property Group, Inc. has a 52 week low of $139.25 and a 52 week high of $188.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping 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%. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

SPG has been the topic of a number of research reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $178.44.

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.