Simon Property Group, Inc. $SPG Stock Position Lessened by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 43,850 shares of the real estate investment trust’s stock after selling 7,230 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Simon Property Group were worth $7,049,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 0.6% in the first 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 grew its stake in shares of Simon Property Group by 1.8% in the first 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. grew its stake in shares of Simon Property Group by 3.0% in the first 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 position in shares of Simon Property Group in the first quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Simon Property Group by 0.7% in the first 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. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Argus restated a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. 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. Evercore ISI restated an “in-line” rating and issued a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Finally, Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $187.23.

Simon Property Group Trading Down 1.9%

Shares of NYSE SPG opened at $175.39 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market cap of $57.26 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50. 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 business has a fifty day simple moving average of $178.12 and a 200-day simple moving average of $165.94.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $2.90 earnings per share. Simon Property Group’s revenue 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 predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. 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%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insider Buying and Selling at Simon Property Group

In related news, Director Daniel C. Smith bought 335 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. This represents a 1.09% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,163 shares of company stock valued at $401,605 over the last 90 days. 8.66% of the stock is owned by 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.