Conning Inc. Sells 82 Shares of Simon Property Group, Inc. $SPG

Conning Inc. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the second quarter, HoldingsChannel reports. The fund owned 2,089 shares of the real estate investment trust’s stock after selling 82 shares during the period. Conning Inc.’s holdings in Simon Property Group were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the 2nd quarter worth approximately $25,000. Park Square Financial Group LLC raised its position in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Simon Property Group during the first quarter worth $47,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.9%

Shares of NYSE:SPG opened at $175.39 on Friday. 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 company has a market capitalization of $57.26 billion, a PE ratio of 27.11, a PEG ratio of 10.61 and a beta of 1.50. The company has a 50 day moving average price of $178.12 and a two-hundred day moving average price of $165.94.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $2.90 earnings per share. The business’s quarterly revenue 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 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is currently 132.92%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on SPG shares. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Truist Financial boosted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Piper Sandler boosted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. Finally, Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock 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.