Simon Property Group, Inc. $SPG Shares Sold by Vestor Capital LLC

Vestor Capital LLC reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 67.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 323 shares of the real estate investment trust’s stock after selling 677 shares during the period. Vestor Capital LLC’s holdings in Simon Property Group were worth $52,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Simon Property Group by 3.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,795,650 shares of the real estate investment trust’s stock worth $610,189,000 after buying an additional 134,248 shares during the last quarter. Del Sette Capital Management LLC grew its position in Simon Property Group by 26.2% in the 2nd quarter. Del Sette Capital Management LLC now owns 17,346 shares of the real estate investment trust’s stock valued at $2,789,000 after buying an additional 3,599 shares during the last quarter. Mufg Securities Americas Inc. grew its position in Simon Property Group by 25.3% in the 2nd quarter. Mufg Securities Americas Inc. now owns 6,800 shares of the real estate investment trust’s stock valued at $1,093,000 after buying an additional 1,371 shares during the last quarter. Journey Strategic Wealth LLC raised its position in Simon Property Group by 17.9% during the 2nd quarter. Journey Strategic Wealth LLC now owns 2,816 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 428 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in shares of Simon Property Group by 7,619.0% in the 2nd quarter. Archer Investment Corp now owns 1,621 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 1,600 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SPG shares. Piper Sandler increased their price target 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. Scotiabank raised their price target on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Argus reaffirmed a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Morgan Stanley increased their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $190.31.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig purchased 195 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $36,260.25. Following the purchase, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Glyn Aeppel purchased 208 shares of the 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 $38,677.60. Following the acquisition, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 2,121 shares of company stock valued at $394,400. 8.66% of the stock is currently owned by insiders.

Simon Property Group Trading Down 0.3%

Shares of Simon Property Group stock opened at $182.61 on Tuesday. 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 business has a 50 day moving average price of $180.69 and a 200 day moving average price of $171.54. The company has a market capitalization of $59.62 billion, a P/E ratio of 28.22, a P/E/G ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. 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 firm 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. 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%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is currently 128.09%.

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.