Simon Property Group, Inc. $SPG Stock Position Decreased by Carmel Capital Partners LLC

Carmel Capital Partners LLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 39.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,207 shares of the real estate investment trust’s stock after selling 2,705 shares during the period. Carmel Capital Partners LLC’s holdings in Simon Property Group were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPG. Brighton Jones LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $295,000. Wealth Enhancement Advisory Services LLC grew its position in Simon Property Group by 9.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust’s stock worth $4,294,000 after purchasing an additional 2,194 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Simon Property Group by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,286 shares of the real estate investment trust’s stock worth $11,673,000 after purchasing an additional 1,296 shares during the last quarter. Global X Japan Co. Ltd. grew its position in Simon Property Group by 24.9% in the 1st quarter. Global X Japan Co. Ltd. now owns 818 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 163 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Simon Property Group by 28.3% in the 1st quarter. Blue Trust Inc. now owns 1,643 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 362 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday. Barclays upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, 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. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $187.31.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith bought 335 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the acquisition, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This represents a 1.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value 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. This represents a 1.09% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock valued at $401,605 in the last ninety days. 8.66% of the stock is owned by company insiders.

Simon Property Group Trading Up 0.8%

Simon Property Group stock opened at $178.23 on Friday. The firm has a 50 day simple moving average of $179.20 and a 200-day simple moving average of $166.34. 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 stock has a market capitalization of $58.19 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 12.96 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month 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 (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 business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm posted $2.90 earnings per share. The business’s 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. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s payout ratio is 132.92%.

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.