Knights of Columbus Asset Advisors LLC Has $8.29 Million Holdings in Simon Property Group, Inc. $SPG

Knights of Columbus Asset Advisors LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,567 shares of the real estate investment trust’s stock after selling 337 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Simon Property Group were worth $8,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SPG. Brighton Jones LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $295,000. Merit Financial Group LLC grew its holdings in shares of Simon Property Group by 84.8% during the first quarter. Merit Financial Group LLC now owns 4,465 shares of the real estate investment trust’s stock valued at $742,000 after buying an additional 2,049 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Simon Property Group by 41.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 718 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 210 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Simon Property Group by 9.1% during the first quarter. Gateway Investment Advisers LLC now owns 2,067 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 172 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Simon Property Group by 3.6% in the 1st quarter. Wedmont Private Capital now owns 6,972 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 245 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on SPG shares. Barclays started coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price target for the company. Argus reaffirmed a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. Piper Sandler raised their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 target price for the company. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $186.46.

Simon Property Group Stock Up 0.3%

Shares of NYSE:SPG opened at $185.58 on Monday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market capitalization of $60.59 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 11.22 and a beta of 1.50. The business has a fifty day moving average price of $176.78 and a two-hundred day moving average price of $165.51. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

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 for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company 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 period in the previous year, the firm earned $2.90 EPS. 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 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Insider Buying and Selling

In other news, Director Daniel C. Smith acquired 335 shares of the company’s 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 $62,293.25. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. The trade was a 0.81% 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 worth $401,605 in the last three months. Insiders own 8.60% of the company’s stock.

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.