Carmel Capital Partners LLC Cuts Position in Simon Property Group, Inc. $SPG

Carmel Capital Partners LLC lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 39.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,207 shares of the real estate investment trust’s stock after selling 2,705 shares during the quarter. Carmel Capital Partners LLC’s holdings in Simon Property Group were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp grew its stake in shares of Simon Property Group by 1.8% during 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 purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Simon Property Group by 3.0% during 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 purchasing an additional 141,657 shares in the last quarter. Nuveen LLC acquired a new position in shares of Simon Property Group during the first quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Simon Property Group by 0.7% during the first 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 purchasing an additional 23,873 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Scotiabank upped their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 target price for the company. Evercore ISI increased their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Piper Sandler increased their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $187.31.

Insider Buying and Selling

In other news, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the acquisition, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders have acquired 2,163 shares of company stock worth $401,605 over the last 90 days. Company insiders own 8.66% of the company’s stock.

Simon Property Group Trading Up 0.8%

Shares of SPG opened at $178.23 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $179.20 and a 200-day simple moving average of $166.34. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The stock has a market cap of $58.19 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 12.96 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $2.90 earnings per share. Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

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.