Waterloo Capital L.P. Sells 2,903 Shares of Simon Property Group, Inc. $SPG

Waterloo Capital L.P. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,244 shares of the real estate investment trust’s stock after selling 2,903 shares during the quarter. Waterloo Capital L.P.’s holdings in Simon Property Group were worth $3,415,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SPG. Highland Capital Management LLC bought a new stake in shares of Simon Property Group in the 2nd quarter valued at $1,196,000. Capital Advisors Inc. OK grew its stake in Simon Property Group by 0.5% in the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after acquiring an additional 2,064 shares during the period. Nordea Investment Management AB increased its holdings in shares of Simon Property Group by 5.7% in the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after acquiring an additional 1,607 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Simon Property Group by 1.3% during the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after purchasing an additional 127,636 shares during the period. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $283,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.8%

Simon Property Group stock opened at $183.29 on Friday. 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 50-day moving average of $180.71 and a 200-day moving average of $171.33. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 28.33, 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 issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio is presently 128.09%.

Insider Activity

In other news, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stefan M. Selig purchased 195 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $36,260.25. Following the acquisition, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This trade represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 2,121 shares of company stock valued at $394,400. 8.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler raised their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Truist Financial boosted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Evercore ISI increased their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on 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 nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.31.

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.