Johnson Investment Counsel Inc. Lowers Holdings in Simon Property Group, Inc. $SPG

Johnson Investment Counsel Inc. lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 5.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,474 shares of the real estate investment trust’s stock after selling 86 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Simon Property Group were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted 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 period. Northern Trust Corp lifted its stake in Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after acquiring an additional 96,126 shares during the period. JPMorgan Chase & Co. lifted its stake in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after acquiring an additional 141,657 shares during the period. Nuveen LLC bought a new position in Simon Property Group during the 1st quarter worth about $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its position in Simon Property Group by 0.7% during 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 during the period. 93.01% of the stock is owned by institutional investors.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock bought 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the purchase, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,163 shares of company stock worth $401,605 over the last ninety days. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $176.65 on Friday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business’s fifty day simple moving average is $178.94 and its 200-day simple moving average is $166.26. 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 company has a market cap of $57.67 billion, a PE ratio of 27.30, a PEG ratio of 13.08 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its 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 for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $2.90 EPS. The firm’s revenue for the quarter 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. Analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. 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. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is currently 132.92%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several research reports. 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 research report on Monday, September 15th. Scotiabank upped their target price 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. Truist Financial lifted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Stifel Nicolaus cut 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, Piper Sandler raised their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock 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.