Private Trust Co. NA Sells 101 Shares of Simon Property Group, Inc. $SPG

Private Trust Co. NA reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,281 shares of the real estate investment trust’s stock after selling 101 shares during the period. Private Trust Co. NA’s holdings in Simon Property Group were worth $527,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the second quarter worth about $25,000. Park Square Financial Group LLC grew its holdings in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. grew its holdings in Simon Property Group by 185.0% in the first 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 period. Continuum Advisory LLC grew its holdings in Simon Property Group by 421.6% in the first 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 period. Finally, WPG Advisers LLC purchased a new stake in Simon Property Group in the first quarter worth about $47,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 0.8%

NYSE:SPG opened at $178.23 on Monday. The company’s 50 day moving average price is $179.20 and its 200-day moving average price is $166.40. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. 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 has a market cap of $58.19 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 13.06 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for 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%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s payout ratio is currently 132.92%.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,163 shares of company stock valued at $401,605 over the last quarter. 8.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on SPG. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Barclays upped 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 Monday, October 6th. JPMorgan Chase & Co. upped 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. Finally, Truist Financial increased 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. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.31.

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.