IFP Advisors Inc Has $692,000 Stock Holdings in Simon Property Group, Inc. $SPG

IFP Advisors Inc grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,281 shares of the real estate investment trust’s stock after acquiring an additional 187 shares during the period. IFP Advisors Inc’s holdings in Simon Property Group were worth $692,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital Advisors Inc. OK raised its stake in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after buying an additional 2,064 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 789 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new position in shares of Simon Property Group in the 2nd quarter valued at $283,000. Focus Partners Wealth raised its stake in shares of Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after buying an additional 53,764 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 509 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Scotiabank increased their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price for the company. Piper Sandler increased their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Finally, Barclays increased their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $187.23.

Simon Property Group Stock Up 0.7%

Shares of NYSE:SPG opened at $176.56 on Tuesday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company’s 50-day moving average price is $178.38 and its two-hundred day moving average price is $166.03. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market cap of $57.65 billion, a P/E ratio of 27.29, a P/E/G ratio of 10.62 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The company’s revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is currently 132.92%.

Insider Activity

In related news, Director Stefan M. Selig acquired 195 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $36,260.25. Following the acquisition, the director directly owned 32,076 shares in the company, valued at $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the purchase, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,163 shares of company stock worth $401,605. 8.60% of the stock is currently owned by insiders.

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.