International Assets Investment Management LLC Has $150.78 Million Position in Simon Property Group, Inc. (NYSE:SPG)

International Assets Investment Management LLC raised its position in Simon Property Group, Inc. (NYSE:SPG) by 18,764.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 892,085 shares of the real estate investment trust’s stock after acquiring an additional 887,356 shares during the quarter. International Assets Investment Management LLC owned approximately 0.27% of Simon Property Group worth $150,780,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in Simon Property Group in the first quarter valued at $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group during the 2nd quarter worth about $27,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $170.54 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group, Inc. has a 12 month low of $104.05 and a 12 month high of $177.08. The firm has a market cap of $55.59 billion, a P/E ratio of 21.72, a P/E/G ratio of 9.58 and a beta of 1.74. The company’s 50-day moving average price is $167.38 and its two-hundred day moving average price is $155.27.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business earned $2.88 earnings per share. Simon Property Group’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $2.05 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 104.46%.

Insider Activity

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank raised their price target on shares of 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. Mizuho raised their price target on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $162.78.

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.