MGO One Seven LLC Sells 23,880 Shares of Simon Property Group, Inc. $SPG

MGO One Seven LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 89.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,839 shares of the real estate investment trust’s stock after selling 23,880 shares during the quarter. MGO One Seven LLC’s holdings in Simon Property Group were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Great Lakes Advisors LLC grew its position in Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 68 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 68 shares during the period. PFS Partners LLC increased its holdings in Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock valued at $743,000 after buying an additional 70 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in Simon Property Group by 2.2% during the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

NYSE SPG opened at $178.23 on Friday. The firm’s 50 day moving average is $179.20 and its 200-day moving average is $166.31. 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 company has a market capitalization of $58.19 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $2.90 EPS. The company’s revenue for the quarter 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s payout ratio is presently 132.92%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPG. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, JPMorgan Chase & Co. raised 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. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $187.31.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price 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 approximately $6,012,321.35. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $36,260.25. Following the completion of the purchase, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This represents a 0.61% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,163 shares of company stock worth $401,605. Insiders own 8.66% of the company’s stock.

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.