Integrated Wealth Concepts LLC Purchases 2,870 Shares of Simon Property Group, Inc. (NYSE:SPG)

Integrated Wealth Concepts LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,913 shares of the real estate investment trust's stock after buying an additional 2,870 shares during the period. Integrated Wealth Concepts LLC's holdings in Simon Property Group were worth $1,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPG. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the 2nd quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new position in Simon Property Group in the second quarter valued at approximately $27,000. RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 160 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth $30,000. Finally, Trivant Custom Portfolio Group LLC bought a new stake in shares of Simon Property Group during the 3rd quarter valued at $42,000. Institutional investors own 93.01% of the company's stock.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. 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 note on Wednesday. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Piper Sandler restated a "neutral" rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus reaffirmed a "hold" rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $165.44.

Simon Property Group Stock Up 1.1 %

Shares of Simon Property Group stock traded up $1.96 on Friday, hitting $183.84. The company had a trading volume of 1,419,419 shares, compared to its average volume of 1,375,120. The stock has a 50-day moving average of $175.34 and a 200-day moving average of $162.19. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group, Inc. has a twelve month low of $129.08 and a twelve month high of $186.00. The firm has a market capitalization of $59.98 billion, a P/E ratio of 24.48, a P/E/G ratio of 10.60 and a beta of 1.75.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $3.20 earnings per share. Simon Property Group's revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts predict that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, December 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is currently 109.19%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.50% of the company's stock.

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.