Simon Property Group, Inc. $SPG Shares Purchased by Fulcrum Capital LLC

Fulcrum Capital LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,692 shares of the real estate investment trust’s stock after purchasing an additional 85 shares during the period. Fulcrum Capital LLC’s holdings in Simon Property Group were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new stake in Simon Property Group in the 2nd quarter valued at about $25,000. Park Square Financial Group LLC raised 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 acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised 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 acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC raised 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 acquiring an additional 156 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in Simon Property Group in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.9%

Shares of NYSE SPG opened at $175.39 on Friday. The company has a 50 day simple moving average of $178.12 and a 200-day simple moving average of $165.96. The company has a market capitalization of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.83 and a beta of 1.50. 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, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts predict 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 disclosed 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 represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is 132.92%.

Insider Activity

In related news, Director Glyn Aeppel acquired 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock acquired 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock worth $401,605 in the last three months. 8.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Morgan Stanley increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Piper Sandler increased their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Evercore ISI restated an “in-line” rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $187.23.

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.