Simplicity Wealth LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 2,197.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,964 shares of the real estate investment trust’s stock after purchasing an additional 49,702 shares during the quarter. Simplicity Wealth LLC’s holdings in Simon Property Group were worth $11,622,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in SPG. Stance Capital LLC purchased a new position in shares of Simon Property Group in the third quarter worth approximately $26,000. Wilkerson Advisory Group LLC purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $29,000. SHP Wealth Management purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $34,000. Dynamic Wealth Strategies LLC raised its position in Simon Property Group by 195.8% in the first quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 139 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its stake in shares of Simon Property Group by 335.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.
Simon Property Group Trading Down 0.1%
Shares of SPG stock opened at $219.34 on Monday. Simon Property Group, Inc. has a 52-week low of $171.22 and a 52-week high of $238.50. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $70.97 billion, a PE ratio of 15.47, a PEG ratio of 2.74 and a beta of 1.30. The stock has a fifty day simple moving average of $222.30 and a two-hundred day simple moving average of $206.09.
Simon Property Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is 63.47%.
Insider Activity at Simon Property Group
In other Simon Property Group news, Director Daniel C. Smith purchased 372 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $223.31 per share, with a total value of $83,071.32. Following the acquisition, the director owned 34,480 shares in the company, valued at approximately $7,699,728.80. This trade represents 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 available through this link. Also, Director Larry C. Glasscock purchased 397 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $223.38 per share, with a total value of $88,681.86. Following the completion of the purchase, the director directly owned 45,902 shares in the company, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,387 shares of company stock worth $533,056 in the last three months. Corporate insiders own 8.73% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH boosted their price objective on shares of Simon Property Group from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Bank of America raised their target price on Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Wolfe Research downgraded Simon Property Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 30th. Jefferies Financial Group raised Simon Property Group to a “strong-buy” rating in a report on Friday, June 26th. Finally, Morgan Stanley upped their price target on Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $221.07.
View Our Latest Stock Report on Simon Property Group
Simon Property Group Profile
Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.
Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.
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