Integrated Wealth Concepts LLC Has $1.32 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Integrated Wealth Concepts LLC reduced its stake in Simon Property Group, Inc. by 24.3%, holding 7,971 shares valued at $1.32 million as of its latest filing.
• Several institutional investors, including Brighton Jones LLC and Lazard Asset Management LLC, have either acquired or increased their holdings in Simon Property Group during the last quarter.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, with a dividend yield of 4.8%, reflecting a growth from the previous dividend of $2.10.

Integrated Wealth Concepts LLC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,971 shares of the real estate investment trust's stock after selling 2,555 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Simon Property Group were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SPG. Brighton Jones LLC acquired a new stake in Simon Property Group during the fourth quarter valued at approximately $295,000. Lazard Asset Management LLC boosted its holdings in Simon Property Group by 1.5% during the fourth quarter. Lazard Asset Management LLC now owns 96,745 shares of the real estate investment trust's stock valued at $16,659,000 after purchasing an additional 1,441 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Simon Property Group by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,025 shares of the real estate investment trust's stock valued at $6,367,000 after acquiring an additional 1,505 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Simon Property Group by 116.5% in the fourth quarter. NorthRock Partners LLC now owns 4,531 shares of the real estate investment trust's stock valued at $780,000 after acquiring an additional 2,438 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Simon Property Group in the fourth quarter valued at approximately $7,873,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. Barclays assumed coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Piper Sandler cut their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $184.92.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig bought 219 shares of the company's stock in a transaction on Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the transaction, the director owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. The trade was a 0.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by company insiders.

Simon Property Group Stock Performance

SPG stock opened at $179.40 on Thursday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50 day moving average price of $170.05 and a 200 day moving average price of $164.43. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The stock has a market capitalization of $58.57 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 10.86 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 EPS. Simon Property Group'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. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is presently 132.92%.

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.

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