Fifth Third Wealth Advisors LLC Lowers Holdings in Simon Property Group, Inc. $SPG

Fifth Third Wealth Advisors LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 3,703 shares of the real estate investment trust’s stock after selling 98 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Simon Property Group were worth $595,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Simon Property Group by 0.6% during the first 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 buying an additional 267,503 shares during the last quarter. Northern Trust Corp raised its stake in Simon Property Group by 1.8% during the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Simon Property Group by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after buying an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new position in Simon Property Group during the first quarter valued at $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 valued at $608,086,000 after buying an additional 23,873 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other news, Director Stefan M. Selig acquired 195 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the transaction, the director owned 32,076 shares in the company, valued at $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the transaction, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,163 shares of company stock valued at $401,605 in the last 90 days. 8.66% of the stock is owned by company insiders.

Simon Property Group Stock Down 1.9%

Simon Property Group stock opened at $175.39 on Monday. The stock has a market cap of $57.26 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. 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 one year low of $136.34 and a one year high of $190.13. The stock has a fifty day moving average of $178.12 and a 200 day moving average of $165.94.

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

Simon Property Group Increases Dividend

The company 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 yield of 4.9%. This is a boost 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 (DPR) is currently 132.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPG. Piper Sandler lifted 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. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Morgan Stanley boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Finally, LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $187.23.

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.