Fifth Third Wealth Advisors LLC Sells 98 Shares of Simon Property Group, Inc. $SPG

Fifth Third Wealth Advisors LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,703 shares of the real estate investment trust’s stock after selling 98 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Simon Property Group were worth $595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Capital Advisors Inc. OK boosted its stake in Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after purchasing an additional 2,064 shares during the period. Farther Finance Advisors LLC boosted its stake in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 789 shares during the period. MinichMacGregor Wealth Management LLC bought a new position in Simon Property Group in the 2nd quarter worth about $283,000. Focus Partners Wealth raised its holdings in shares of Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after acquiring an additional 53,764 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of 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 valued at $128,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $175.39 on Monday. The firm has a market cap of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The business’s 50 day moving average price is $178.12 and its 200-day moving average price is $165.94. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

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, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts anticipate 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 declared 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 is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel purchased 208 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost 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 of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock purchased 351 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock valued at $401,605 over the last ninety days. Insiders own 8.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Piper Sandler raised their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Scotiabank raised their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $187.23.

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.