TD Waterhouse Canada Inc. Cuts Position in Simon Property Group, Inc. $SPG

TD Waterhouse Canada Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 86.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,756 shares of the real estate investment trust’s stock after selling 17,515 shares during the period. TD Waterhouse Canada Inc.’s holdings in Simon Property Group were worth $453,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new position in shares of Simon Property Group in the 2nd quarter valued at $30,000. Wealthspire Advisors LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at $204,000. Portside Wealth Group LLC increased its holdings in Simon Property Group by 6.5% in the 2nd quarter. Portside Wealth Group LLC now owns 6,132 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 376 shares in the last quarter. Inspire Advisors LLC raised its position in Simon Property Group by 8.5% in the second quarter. Inspire Advisors LLC now owns 3,785 shares of the real estate investment trust’s stock valued at $608,000 after purchasing an additional 295 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Simon Property Group by 24.7% during the second quarter. Empowered Funds LLC now owns 62,006 shares of the real estate investment trust’s stock worth $9,968,000 after purchasing an additional 12,263 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.8%

SPG opened at $183.29 on Monday. The stock has a market capitalization of $59.84 billion, a PE ratio of 28.33, a P/E/G ratio of 12.73 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The firm’s fifty day moving average price is $180.71 and its 200 day moving average price is $171.40.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is 128.09%.

Insiders Place Their Bets

In other Simon Property Group news, Director Daniel C. Smith bought 335 shares of the stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the acquisition, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 2,121 shares of company stock worth $394,400. Corporate insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPG. Argus reiterated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Scotiabank lifted their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Piper Sandler boosted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Morgan Stanley raised their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $190.31.

About Simon Property Group

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.