Simon Property Group, Inc. $SPG Stake Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,728 shares of the real estate investment trust’s stock after selling 1,118 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Simon Property Group were worth $1,242,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK raised its stake in shares of Simon Property Group by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after purchasing an additional 2,064 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of Simon Property Group during the second quarter valued at about $283,000. Focus Partners Wealth raised its stake in shares of Simon Property Group by 89.0% during the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after purchasing an additional 53,764 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 509 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Simon Property Group by 5.7% during the first quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock valued at $5,358,000 after purchasing an additional 1,750 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

NYSE SPG opened at $178.23 on Friday. The stock’s 50-day moving average price is $179.20 and its two-hundred day moving average price is $166.31. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market cap of $58.19 billion, a PE ratio of 27.55, a PEG ratio of 13.06 and a beta of 1.50. 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 (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Activity

In related news, Director Stefan M. Selig acquired 195 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel C. Smith bought 335 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SPG shares. Evercore ISI lifted their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. 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 target price on the stock. Piper Sandler lifted their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Truist Financial lifted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $187.31.

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.