Argentarii LLC Reduces Holdings in Simon Property Group, Inc. $SPG

Argentarii LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 41.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,792 shares of the real estate investment trust’s stock after selling 2,651 shares during the period. Argentarii LLC’s holdings in Simon Property Group were worth $610,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SPG. Farther Finance Advisors LLC raised its holdings in shares of Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after acquiring an additional 789 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 509 shares in the last quarter. Inspire Investing LLC raised its holdings in Simon Property Group by 5.7% in the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after purchasing an additional 1,750 shares in the last quarter. Voya Investment Management LLC raised its holdings in Simon Property Group by 16.3% in the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust’s stock worth $34,996,000 after purchasing an additional 29,479 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in Simon Property Group in the 4th quarter worth $295,000. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SPG. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective for the company. Stifel Nicolaus lowered 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. Argus reiterated a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Piper Sandler increased their price objective on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Scotiabank increased their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $186.46.

Simon Property Group Stock Up 0.3%

SPG stock opened at $181.25 on Tuesday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The business has a fifty day moving average price of $172.94 and a 200-day moving average price of $164.18. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $59.18 billion, a P/E ratio of 28.01, a P/E/G ratio of 10.94 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping 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 firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. The company’s 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 fiscal year.

Simon Property Group Increases Dividend

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

Insider Buying and Selling

In other news, Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares in the company, valued at $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $39,185.34. Following the transaction, the director owned 19,010 shares of the company’s stock, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,428 shares of company stock valued at $387,271 over the last ninety days. 8.60% of the stock is owned by 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.