Profund Advisors LLC Grows Holdings in Simon Property Group, Inc. $SPG

Profund Advisors LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.3% in the second quarter, Holdings Channel reports. The institutional investor owned 4,505 shares of the real estate investment trust’s stock after acquiring an additional 307 shares during the quarter. Profund Advisors LLC’s holdings in Simon Property Group were worth $724,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Simon Property Group by 19.2% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,571 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 576 shares in the last quarter. CSM Advisors LLC acquired a new position in Simon Property Group in the second quarter worth about $25,438,000. Sound View Wealth Advisors Group LLC increased its holdings in Simon Property Group by 2.8% in the second quarter. Sound View Wealth Advisors Group LLC now owns 3,732 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 101 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Simon Property Group during the second quarter valued at approximately $2,404,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Simon Property Group by 6.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 817,971 shares of the real estate investment trust’s stock worth $131,497,000 after buying an additional 51,203 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 2,121 shares of company stock valued at $394,400. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price objective 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. Evercore ISI boosted their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. 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 target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Five investment 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 an average rating of “Hold” and an average price target of $188.85.

Simon Property Group Trading Down 0.6%

Simon Property Group stock opened at $183.90 on Thursday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market capitalization of $60.04 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 12.73 and a beta of 1.50. The firm has a 50-day moving average price of $180.69 and a two-hundred day moving average price of $170.22.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $2.20 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

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.