Simon Property Group, Inc. $SPG Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,281 shares of the real estate investment trust’s stock after purchasing an additional 187 shares during the quarter. IFP Advisors Inc’s holdings in Simon Property Group were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SPG. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC increased its position in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth about $47,000. Finally, Grove Bank & Trust boosted its holdings in shares of Simon Property Group by 231.3% in the 1st quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Evercore ISI reiterated an “in-line” rating and issued a $187.00 target price (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Argus reiterated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. JPMorgan Chase & Co. boosted their target price 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. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $187.23.

Insider Activity

In related news, Director Daniel C. Smith bought 335 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz bought 464 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $86,280.80. Following the completion of the purchase, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. The trade was a 0.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,163 shares of company stock worth $401,605. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $176.56 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a fifty day simple moving average of $178.38 and a 200 day simple moving average of $166.03. The company has a market cap of $57.65 billion, a P/E ratio of 27.29, a P/E/G ratio of 10.62 and a beta of 1.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

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.