Donoghue Forlines LLC Trims Stake in Simon Property Group, Inc. $SPG

Donoghue Forlines LLC lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 58.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,224 shares of the real estate investment trust’s stock after selling 13,126 shares during the quarter. Donoghue Forlines LLC’s holdings in Simon Property Group were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its position in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Clearstead Trust LLC raised its position in Simon Property Group by 68.4% in the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 108 shares during the last quarter. WPG Advisers LLC acquired a new stake in Simon Property Group during the 1st quarter worth $47,000. Finally, TCTC Holdings LLC grew its position in 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 during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research reports. Evercore ISI upped their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Truist Financial increased their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Piper Sandler lifted their target price on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Finally, Morgan Stanley increased their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $189.85.

Simon Property Group Stock Performance

NYSE SPG opened at $183.55 on Friday. The stock has a market capitalization of $59.93 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 12.73 and a beta of 1.50. The business’s 50 day moving average is $180.73 and its two-hundred day moving average is $170.32. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. 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 (NYSE:SPG) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 128.09%.

Insiders Place Their Bets

In related news, Director Daniel C. Smith acquired 335 shares of Simon Property Group 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 $62,293.25. Following the completion of the purchase, the director directly owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry C. Glasscock bought 351 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 2,121 shares of company stock worth $394,400. Insiders own 8.60% of the company’s stock.

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.