Simon Property Group, Inc. $SPG Position Boosted by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 38,833 shares of the real estate investment trust’s stock after purchasing an additional 1,250 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Simon Property Group were worth $6,243,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Whittier Trust Co. boosted its position in shares of Simon Property Group by 2.1% during the 2nd quarter. Whittier Trust Co. now owns 80,231 shares of the real estate investment trust’s stock valued at $12,898,000 after purchasing an additional 1,687 shares in the last quarter. Phoenix Financial Ltd. bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $502,000. Bogart Wealth LLC boosted its position in shares of Simon Property Group by 14.9% during the 2nd quarter. Bogart Wealth LLC now owns 47,446 shares of the real estate investment trust’s stock valued at $7,627,000 after purchasing an additional 6,146 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $278,000. Finally, SAM Advisors LLC boosted its position in shares of Simon Property Group by 3.2% during the 2nd quarter. SAM Advisors LLC now owns 21,642 shares of the real estate investment trust’s stock valued at $3,479,000 after purchasing an additional 675 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SPG shares. Barclays raised their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Scotiabank raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Truist Financial raised their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Evercore ISI raised 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 report on Friday. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and an average target price of $187.31.

Simon Property Group Price Performance

NYSE SPG opened at $178.79 on Wednesday. The company has a 50 day simple moving average of $179.65 and a 200-day simple moving average of $166.71. 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 firm has a market capitalization of $58.37 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 13.09 and a beta of 1.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s payout ratio is currently 132.92%.

Insiders Place Their Bets

In related news, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This represents a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock valued at $401,605 over the last ninety days. Insiders own 8.60% of the company’s stock.

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.