Simon Property Group, Inc. $SPG Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,304 shares of the real estate investment trust’s stock after selling 613 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Simon Property Group were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Advisors Inc. OK boosted its stake in Simon Property Group by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after buying an additional 2,064 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of Simon Property Group during the 2nd quarter valued at about $1,196,000. Wealthcare Advisory Partners LLC acquired a new position in Simon Property Group in the 2nd quarter valued at about $451,000. 111 Capital boosted its holdings in Simon Property Group by 83.6% in the 2nd quarter. 111 Capital now owns 8,183 shares of the real estate investment trust’s stock valued at $1,315,000 after purchasing an additional 3,726 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Simon Property Group by 0.6% in the 2nd quarter. QRG Capital Management Inc. now owns 212,123 shares of the real estate investment trust’s stock valued at $34,101,000 after purchasing an additional 1,321 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. Stifel Nicolaus lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. 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 report on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Argus reaffirmed a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Truist Financial upped their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $187.23.

Simon Property Group Stock Down 1.9%

NYSE:SPG opened at $175.39 on Friday. 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 stock’s fifty day moving average is $178.12 and its two-hundred day moving average is $165.96. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The stock has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.83 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $2.90 EPS. Simon Property Group’s revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. Simon Property Group’s payout ratio is 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of Simon Property Group 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 $65,268.45. Following the acquisition, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith bought 335 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by company insiders.

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.