Simon Property Group, Inc. $SPG Shares Purchased by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,656 shares of the real estate investment trust’s stock after acquiring an additional 139 shares during the period. Genesee Capital Advisors LLC’s holdings in Simon Property Group were worth $909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Nuveen LLC acquired a new position in Simon Property Group during the 1st quarter worth approximately $724,937,000. Principal Financial Group Inc. increased its holdings in Simon Property Group by 133.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock worth $532,529,000 after purchasing an additional 1,830,264 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Simon Property Group in the 1st quarter valued at approximately $197,377,000. Goldman Sachs Group Inc. raised its position in shares of Simon Property Group by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after purchasing an additional 604,016 shares in the last quarter. Finally, Resolution Capital Ltd raised its position in shares of Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after purchasing an additional 565,084 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In related news, Director Glyn Aeppel bought 208 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock valued at $401,605 over the last three months. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

SPG stock opened at $175.39 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. 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 12-month low of $136.34 and a 12-month high of $190.13. The stock’s 50 day simple moving average is $178.12 and its 200 day simple moving average is $165.94.

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 (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The business 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 revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS 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. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent analyst reports. Barclays upped their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Scotiabank upped their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Truist Financial upped their target price on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $187.23.

Simon Property Group 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.