Chicago Partners Investment Group LLC Makes New Investment in Simon Property Group, Inc. $SPG

Chicago Partners Investment Group LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,679 shares of the real estate investment trust’s stock, valued at approximately $278,000.

Several other hedge funds have also recently bought and sold shares of SPG. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the second quarter valued at $25,000. Park Square Financial Group LLC increased its stake in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at $47,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Larry C. Glasscock bought 351 shares of Simon Property Group 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 $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This 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 is available at this hyperlink. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the acquisition, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,163 shares of company stock valued at $401,605. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $178.27 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a market cap of $58.20 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 13.10 and a beta of 1.50. The stock has a 50-day moving average price of $180.03 and a 200 day moving average price of $167.31.

Simon Property Group (NYSE:SPG) last issued its 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. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business earned $2.90 earnings per share. The company’s revenue 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. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.8%. This is an increase 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 132.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays raised their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Morgan Stanley raised their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a research report on Tuesday, September 2nd. Evercore ISI lifted their price objective on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Truist Financial lifted their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $187.31.

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.