Wealthspire Advisors LLC Takes Position in Simon Property Group, Inc. $SPG

Wealthspire Advisors LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,271 shares of the real estate investment trust’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group in the 2nd quarter worth $25,000. Bell Investment Advisors Inc boosted its stake in Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Clearstead Trust LLC grew its holdings 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 acquiring an additional 108 shares during the period. WPG Advisers LLC bought a new stake in Simon Property Group in the first quarter worth about $47,000. Finally, TCTC Holdings LLC lifted its holdings in Simon Property Group by 93.5% in the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $183.29 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $59.84 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The business has a fifty day simple moving average of $180.71 and a 200-day simple moving average of $171.40.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $3.05 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal 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 given a $2.20 dividend. This represents a $8.80 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 $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock bought 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $36,260.25. Following the purchase, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,121 shares of company stock valued at $394,400 in the last 90 days. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPG. Stifel Nicolaus increased their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Barclays upped their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Evercore ISI boosted their price objective 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, Argus reaffirmed a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target 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.