Independent Advisor Alliance Has $11.96 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

Independent Advisor Alliance boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.0% in the fourth quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 buying an additional 2,746,503 shares during the last quarter. Hamlin Capital Management LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $109,403,000. Mizuho Securities USA LLC raised its position in shares of Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock valued at $111,247,000 after buying an additional 633,072 shares during the last quarter. KBC Group NV raised its position in shares of Simon Property Group by 170.3% during the fourth quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust’s stock valued at $151,597,000 after buying an additional 554,605 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Simon Property Group by 22,608.6% during the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust’s stock valued at $93,386,000 after buying an additional 539,893 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost 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. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $165.32 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $53.94 billion, a price-to-earnings ratio of 22.77, a P/E/G 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 issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share 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, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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 paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.08%. Simon Property Group’s dividend payout ratio is 115.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPG. Mizuho upped 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 report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target 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.