Simon Property Group, Inc. $SPG Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,018 shares of the real estate investment trust’s stock after acquiring an additional 747 shares during the quarter. Plato Investment Management Ltd’s holdings in Simon Property Group were worth $2,886,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SPG. Trust Co. of Toledo NA OH acquired a new position in shares of Simon Property Group in the second quarter worth about $25,000. Park Square Financial Group LLC raised its stake in Simon Property Group by 108.0% during 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. raised its stake in Simon Property Group by 185.0% during 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. WPG Advisers LLC acquired a new stake in Simon Property Group during the first quarter valued at approximately $47,000. Finally, TCTC Holdings LLC raised its stake in Simon Property Group by 93.5% during the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Smith bought 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 2,163 shares of company stock worth $401,605 over the last quarter. Insiders own 8.66% of the company’s stock.

Simon Property Group Stock Up 1.5%

Shares of Simon Property Group stock opened at $175.95 on Friday. 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 business’s 50 day simple moving average is $180.19 and its 200-day simple moving average is $168.52. The stock has a market capitalization of $57.45 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for 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%.The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current 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 dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is currently 132.92%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Argus restated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Scotiabank upped their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Morgan Stanley upped their price objective 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. Finally, Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.