Trust Co. of Vermont Increases Stock Holdings in Simon Property Group, Inc. $SPG

Trust Co. of Vermont grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 15.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,728 shares of the real estate investment trust’s stock after buying an additional 644 shares during the quarter. Trust Co. of Vermont’s holdings in Simon Property Group were worth $760,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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 purchased a new position in shares of Simon Property Group in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective 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. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Argus reissued a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Evercore ISI reissued an “in-line” rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average target price of $186.46.

Simon Property Group Price Performance

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

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

Simon Property Group Increases Dividend

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

Insider Activity at Simon Property Group

In other news, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz purchased 464 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the transaction, the director owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,163 shares of company stock valued at $401,605 over the last 90 days. 8.66% of the stock is owned by insiders.

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.