Bogart Wealth LLC Purchases 6,146 Shares of Simon Property Group, Inc. $SPG

Bogart Wealth LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,446 shares of the real estate investment trust’s stock after purchasing an additional 6,146 shares during the quarter. Bogart Wealth LLC’s holdings in Simon Property Group were worth $7,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group during the 2nd quarter worth about $25,000. Park Square Financial Group LLC lifted its position in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC lifted its position in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Simon Property Group during the 1st quarter worth about $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Stefan M. Selig purchased 195 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the transaction, the director directly owned 32,076 shares in the company, valued at $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,163 shares of company stock worth $401,605 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $178.23 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market cap of $58.19 billion, a PE ratio of 27.55, a PEG ratio of 13.06 and a beta of 1.50. The company’s 50-day moving average is $179.20 and its two-hundred day moving average is $166.40.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is 132.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SPG shares. Scotiabank upped their price target 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. Evercore ISI upped their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. LADENBURG THALM/SH SH initiated 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 on the stock. Finally, Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $187.31.

Simon Property Group Company 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.