Simon Property Group, Inc. $SPG Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,958 shares of the real estate investment trust’s stock after selling 216 shares during the period. Freedom Investment Management Inc.’s holdings in Simon Property Group were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SPG. Nuveen LLC acquired a new stake in Simon Property Group in the first quarter worth approximately $724,937,000. Principal Financial Group Inc. lifted its position in Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock worth $532,529,000 after purchasing an additional 1,830,264 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Simon Property Group in the first quarter worth approximately $197,377,000. Goldman Sachs Group Inc. lifted its position in Simon Property Group by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after purchasing an additional 604,016 shares during the period. Finally, Resolution Capital Ltd lifted its position in shares of Simon Property Group by 45.8% during the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after acquiring an additional 565,084 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $36,260.25. Following the completion of the transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin purchased 219 shares of the company’s stock in a transaction dated 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 purchase, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,163 shares of company stock valued at $401,605 over the last quarter. 8.60% of the stock is owned by insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $178.27 on Monday. The stock has a market cap of $58.20 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. The business has a fifty day simple moving average of $180.03 and a 200-day simple moving average of $167.60. 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.

Simon Property Group (NYSE:SPG) last issued its earnings results 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. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is a boost 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 132.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPG. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Truist Financial increased their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Argus reiterated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Finally, Piper Sandler increased their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $187.31.

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.