Lecap Asset Management Ltd. Buys 9,700 Shares of Simon Property Group, Inc. $SPG

Lecap Asset Management Ltd. raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 426.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,973 shares of the real estate investment trust’s stock after buying an additional 9,700 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Simon Property Group were worth $1,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC increased its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its holdings 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 buying an additional 111 shares during the period. Continuum Advisory LLC increased its holdings in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the period. AdvisorNet Financial Inc increased its holdings in Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 95 shares during the period. Finally, WPG Advisers LLC bought a new stake in Simon Property Group in the 1st quarter valued at $47,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.9%

Shares of NYSE SPG opened at $185.91 on Thursday. The firm’s 50-day simple moving average is $176.01 and its 200 day simple moving average is $165.23. The company has a market cap of $60.70 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 11.36 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.6%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Insider Buying and Selling at Simon Property Group

In related news, Director Gary M. Rodkin purchased 219 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, for a total transaction of $40,723.05. Following the transaction, the director directly owned 19,229 shares in the company, valued at approximately $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel C. Smith bought 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,163 shares of company stock worth $401,605 over the last quarter. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPG shares. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price target on the stock. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Argus reaffirmed a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Finally, Mizuho lowered their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $186.46.

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.