Simon Property Group, Inc. $SPG Shares Bought by Amalgamated Bank

Amalgamated Bank grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,981 shares of the real estate investment trust’s stock after purchasing an additional 2,039 shares during the period. Amalgamated Bank’s holdings in Simon Property Group were worth $10,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SPG. Brighton Jones LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth approximately $295,000. Mather Group LLC. increased its stake in Simon Property Group by 4.9% in the first quarter. Mather Group LLC. now owns 3,522 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 166 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Simon Property Group by 296.7% in the first quarter. DAVENPORT & Co LLC now owns 9,639 shares of the real estate investment trust’s stock valued at $1,601,000 after purchasing an additional 7,209 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Simon Property Group during the first quarter worth approximately $88,000. Finally, Private Trust Co. NA grew its position in shares of Simon Property Group by 13.6% during the first quarter. Private Trust Co. NA now owns 3,382 shares of the real estate investment trust’s stock worth $562,000 after acquiring an additional 404 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPG shares. Barclays raised their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Scotiabank lifted their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Stifel Nicolaus lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research report on Tuesday, September 2nd. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $187.31.

Simon Property Group Price Performance

Simon Property Group stock opened at $173.46 on Friday. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The business has a fifty day moving average of $180.20 and a two-hundred day moving average of $168.21. The company has a market cap of $56.63 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.90 earnings per share. Simon Property Group’s quarterly 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. As a group, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. 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. This represents a $8.60 annualized dividend and a dividend yield of 5.0%. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Buying and Selling at Simon Property Group

In other news, Director Glyn Aeppel purchased 208 shares of the business’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 $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 2,163 shares of company stock worth $401,605. Insiders own 8.66% 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.