Alpha Omega Wealth Management LLC Cuts Stock Position in Simon Property Group, Inc. $SPG

Alpha Omega Wealth Management LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,835 shares of the real estate investment trust’s stock after selling 544 shares during the quarter. Simon Property Group accounts for 1.2% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Alpha Omega Wealth Management LLC’s holdings in Simon Property Group were worth $6,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPG. Nuveen LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at approximately $724,937,000. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after buying an additional 1,830,264 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Simon Property Group in the first quarter valued at approximately $197,377,000. GAMMA Investing LLC increased its position in shares of Simon Property Group by 16,346.0% in the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust’s stock valued at $145,608,000 after buying an additional 871,405 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Simon Property Group by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after acquiring an additional 604,016 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $181.25 on Tuesday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The business’s fifty day simple moving average is $172.94 and its 200-day simple moving average is $164.18. The firm has a market cap of $59.18 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 10.94 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.

Simon Property Group (NYSE:SPG) last announced its quarterly 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted $2.90 EPS. The company’s quarterly revenue 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 analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Scotiabank lifted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $186.46.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin acquired 246 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the acquisition, the director owned 19,010 shares of the company’s stock, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director directly owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,428 shares of company stock worth $387,271. 8.60% of the stock is owned by corporate 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.