LRI Investments LLC Sells 172 Shares of Simon Property Group, Inc. $SPG

LRI Investments LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,089 shares of the real estate investment trust’s stock after selling 172 shares during the quarter. LRI Investments LLC’s holdings in Simon Property Group were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp boosted its position in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after purchasing an additional 141,657 shares in the last quarter. Nuveen LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after purchasing an additional 23,873 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Argus reissued a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted 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. Piper Sandler boosted their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Morgan Stanley boosted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Finally, Truist Financial boosted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.23.

Simon Property Group Trading Down 1.9%

NYSE:SPG opened at $175.39 on Monday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The business has a fifty day moving average price of $178.12 and a 200-day moving average price of $165.94.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $2.90 EPS. Simon Property Group’s revenue for the quarter 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. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig purchased 195 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the purchase, the director owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glyn Aeppel acquired 208 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock worth $401,605 in the last three months. 8.66% of the stock is owned by company insiders.

Simon Property Group 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.