Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust's stock worth $626,419,000 after acquiring an additional 64,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Simon Property Group by 617.5% in the 3rd 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 worth $539,393,000 after acquiring an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in shares of Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust's stock worth $442,892,000 after acquiring an additional 88,378 shares during the last quarter. Amundi lifted its holdings in shares of Simon Property Group by 10.5% in the 4th quarter. Amundi now owns 1,728,738 shares of the real estate investment trust's stock worth $301,088,000 after acquiring an additional 163,764 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Simon Property Group by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust's stock worth $251,484,000 after acquiring an additional 25,519 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms recently commented on SPG. Mizuho raised their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $180.33.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was 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 owns 55,919 shares in the company, valued at $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 this link. 8.50% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

NYSE SPG traded up $2.71 during mid-day trading on Wednesday, reaching $166.19. 741,631 shares of the stock were exchanged, compared to its average volume of 1,336,796. The business's 50 day moving average is $177.75 and its 200-day moving average is $174.60. Simon Property Group, Inc. has a 1 year low of $139.25 and a 1 year high of $190.14. The company has a market capitalization of $54.22 billion, a P/E ratio of 22.87, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates 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 research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced 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. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

About Simon Property Group

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.