Morningstar Investment Management LLC Invests $872,000 in Simon Property Group, Inc. $SPG

Morningstar Investment Management LLC purchased a new position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, Holdings Channel reports. The fund purchased 5,422 shares of the real estate investment trust’s stock, valued at approximately $872,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings 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 worth $7,588,195,000 after buying an additional 267,503 shares during the last quarter. Northern Trust Corp increased its holdings 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 worth $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $805,853,000 after buying an additional 141,657 shares during the last quarter. Nuveen LLC bought a new position in shares of Simon Property Group in the 1st quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 worth $608,086,000 after buying an additional 23,873 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Stefan M. Selig purchased 195 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $36,260.25. Following the transaction, the director directly owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 351 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 $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock worth $401,605 over the last ninety days. 8.60% of the stock is owned by company insiders.

Simon Property Group Trading Up 0.7%

Shares of SPG opened at $176.56 on Tuesday. The stock has a market capitalization of $57.65 billion, a P/E ratio of 27.29, a PEG ratio of 10.62 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. The firm has a fifty day simple moving average of $178.38 and a two-hundred day simple moving average of $166.03. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter 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. On average, research analysts anticipate 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. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend 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 is currently 132.92%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Truist Financial increased their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a research note on Saturday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a research note on Tuesday, September 2nd. Finally, Barclays upped their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target 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.