IFP Advisors Inc Has $643,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

IFP Advisors Inc raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,735 shares of the real estate investment trust’s stock after buying an additional 159 shares during the quarter. IFP Advisors Inc’s holdings in Simon Property Group were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Simon Property Group in the third quarter valued at about $834,000. First Hawaiian Bank lifted its stake in Simon Property Group by 35.0% in the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares during the period. Red Cedar Investment Management LLC lifted its stake in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 10,644 shares during the period. Versant Capital Management Inc lifted its stake in Simon Property Group by 72.8% in the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 421 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 1.9 %

NYSE:SPG 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 company has a market cap of $60.73 billion, a PE ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.13. The stock has a 50-day simple moving average of $177.31 and a 200 day simple moving average of $173.62.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (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%. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS 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. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.51%. Simon Property Group’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded 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 report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.