Murphy Pohlad Asset Management LLC Sells 2,000 Shares of Simon Property Group, Inc. $SPG

Murphy Pohlad Asset Management LLC reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 56.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,536 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Simon Property Group were worth $247,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. Park Square Financial Group LLC grew its holdings in shares of 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 purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of 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 purchasing an additional 111 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth approximately $47,000. Finally, TCTC Holdings LLC grew its holdings in shares of Simon Property Group by 93.5% during the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $173.46 on Friday. The stock’s fifty day simple moving average is $180.20 and its 200 day simple moving average is $168.21. 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 firm has a market cap of $56.63 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. Simon Property Group’s quarterly 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. On average, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 5.0%. The ex-dividend date was 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%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin acquired 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by company insiders.

Analyst Ratings Changes

SPG has been the topic of several recent research reports. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Piper Sandler lifted their price objective on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Barclays boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Evercore ISI boosted their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $187.31.

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.