Mutual Advisors LLC Raises Holdings in Simon Property Group, Inc. $SPG

Mutual Advisors LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 13.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,754 shares of the real estate investment trust’s stock after buying an additional 331 shares during the quarter. Mutual Advisors LLC’s holdings in Simon Property Group were worth $460,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Great Lakes Advisors LLC increased its holdings in Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 68 shares during the period. Wedmont Private Capital grew its holdings in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 68 shares during the last quarter. PFS Partners LLC grew its holdings in Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 70 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in Simon Property Group by 2.2% in the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 75 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Evercore ISI lifted their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday. Piper Sandler lifted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Scotiabank lifted their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Finally, Morgan Stanley lifted their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $187.31.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glyn Aeppel bought 208 shares of the firm’s 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 transaction, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,163 shares of company stock valued at $401,605 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Trading Up 0.8%

NYSE:SPG opened at $178.23 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a fifty day simple moving average of $179.20 and a 200-day simple moving average of $166.40. 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 capitalization of $58.19 billion, a P/E ratio of 27.55, a PEG ratio of 13.06 and a beta of 1.50.

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, topping 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 the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts anticipate 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 announced 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 is a boost 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%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s payout ratio is presently 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.