Triad Wealth Partners LLC Buys 219 Shares of Simon Property Group, Inc. $SPG

Triad Wealth Partners LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 16.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,538 shares of the real estate investment trust’s stock after buying an additional 219 shares during the period. Triad Wealth Partners LLC’s holdings in Simon Property Group were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SPG. Vanguard Group Inc. increased its position in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the period. Northern Trust Corp lifted its position in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Simon Property Group by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after buying an additional 23,873 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 464 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the acquisition, the director directly owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel bought 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the acquisition, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $185.58 on Friday. The business has a 50-day simple moving average of $176.78 and a 200 day simple moving average of $165.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 firm has a market capitalization of $60.59 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 11.20 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced 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 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 company’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 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.6%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Analyst Ratings Changes

SPG has been the topic of a number of research analyst reports. Evercore ISI reaffirmed an “in-line” rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Scotiabank boosted 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. Barclays began coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 target price on the stock. Truist Financial lifted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. 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 stock has a consensus rating of “Hold” and a consensus target price of $186.46.

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.