Lodestone Wealth Management LLC Acquires 15,015 Shares of Simon Property Group, Inc. $SPG

Lodestone Wealth Management LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 95.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 30,803 shares of the real estate investment trust’s stock after buying an additional 15,015 shares during the quarter. Simon Property Group makes up 2.4% of Lodestone Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Lodestone Wealth Management LLC’s holdings in Simon Property Group were worth $4,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new stake in Simon Property Group during the 2nd quarter valued at about $25,000. Richardson Financial Services Inc. boosted 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 during the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Simon Property Group in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc increased its holdings in shares of Simon Property Group by 205.6% in the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Finally, Clearstead Trust LLC lifted its position in Simon Property Group by 68.4% during the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 108 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.9%

Shares of SPG stock opened at $180.26 on Thursday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The firm has a market cap of $58.85 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The company has a 50-day moving average of $180.78 and a two-hundred day moving average of $171.04. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.9%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

Insider Buying and Selling at Simon Property Group

In other news, Director Gary M. Rodkin acquired 219 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Reuben S. Leibowitz bought 464 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the purchase, the director owned 58,659 shares in the company, valued at $10,907,641.05. This represents a 0.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 2,121 shares of company stock valued at $394,400. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Piper Sandler raised their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Finally, Barclays increased their price target on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five 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, the stock has an average rating of “Hold” and a consensus price target of $190.31.

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.