Simon Property Group, Inc. $SPG Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,850 shares of the real estate investment trust’s stock after selling 7,230 shares during the period. Concurrent Investment Advisors LLC’s holdings in Simon Property Group were worth $7,049,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp raised its position in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares in the last quarter. Nuveen LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after purchasing an additional 23,873 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Daniel C. Smith acquired 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel acquired 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,163 shares of company stock worth $401,605 over the last 90 days. Insiders own 8.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price target on the stock. Barclays upped their price target 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. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $187.23.

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 issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

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.