Simon Property Group, Inc. $SPG is Vert Asset Management LLC’s 4th Largest Position

Vert Asset Management LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,237 shares of the real estate investment trust’s stock after selling 185 shares during the quarter. Simon Property Group accounts for about 7.2% of Vert Asset Management LLC’s investment portfolio, making the stock its 4th biggest holding. Vert Asset Management LLC’s holdings in Simon Property Group were worth $19,812,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its stake in shares of Simon Property Group by 185.0% in the first 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. Continuum Advisory LLC raised its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 95 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Simon Property Group in the first quarter worth $47,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel acquired 208 shares of the stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin acquired 219 shares of the stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,163 shares of company stock valued at $401,605 in the last ninety days. 8.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Barclays assumed coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, Truist Financial lifted their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.46.

Simon Property Group Stock Performance

NYSE:SPG opened at $185.91 on Thursday. The stock has a 50-day simple moving average of $176.01 and a two-hundred day simple moving average of $165.23. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $60.70 billion, a PE ratio of 28.73, a P/E/G ratio of 11.36 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. Simon Property Group’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is presently 132.92%.

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.