Simon Property Group, Inc. (NYSE:SPG) Holdings Boosted by Independent Advisor Alliance

Independent Advisor Alliance boosted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,454 shares of the real estate investment trust’s stock after acquiring an additional 2,661 shares during the period. Independent Advisor Alliance’s holdings in Simon Property Group were worth $11,961,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPG. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $30,000. Assetmark Inc. increased its stake in shares of Simon Property Group by 3.8% in the third quarter. Assetmark Inc. now owns 8,769 shares of the real estate investment trust’s stock valued at $1,482,000 after purchasing an additional 322 shares during the period. Baker Avenue Asset Management LP acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $236,000. Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group in the third quarter valued at approximately $52,000. Finally, Catalytic Wealth RIA LLC increased its stake in shares of Simon Property Group by 15.4% in the third quarter. Catalytic Wealth RIA LLC now owns 6,210 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 830 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 3.4 %

Simon Property Group stock opened at $165.32 on Tuesday. 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 $53.94 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The firm’s 50 day moving average price is $177.92 and its two-hundred day moving average price is $174.62.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.08%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction on Monday, December 30th. The shares were 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 approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.33.

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.