Infrastructure Capital Advisors LLC Has $910,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Infrastructure Capital Advisors LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 36.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,383 shares of the real estate investment trust’s stock after purchasing an additional 1,430 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Simon Property Group were worth $910,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 acquiring an additional 2,746,503 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Simon Property Group by 373.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares during the period. International Assets Investment Management LLC lifted its stake in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after buying an additional 887,356 shares during the period. Mizuho Securities USA LLC lifted its stake in Simon Property Group by 2,520.3% in 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 period. Finally, Strategic Financial Concepts LLC lifted its stake in Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after buying an additional 421,560 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPG. Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reissued 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. Piper Sandler reissued a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Finally, Scotiabank raised their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.75 on Friday. The stock has a market cap of $59.95 billion, a P/E ratio of 24.47, a PEG ratio of 10.73 and a beta of 1.74. The stock has a 50 day simple moving average of $173.96 and a 200 day simple moving average of $161.04. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1-year low of $120.50 and a 1-year high of $186.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.20 earnings per share. Research analysts anticipate that Simon Property Group, Inc. will post 12.78 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Insider Buying and Selling

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Simon Property Group 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.