Simon Property Group, Inc. $SPG Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,833 shares of the real estate investment trust’s stock after purchasing an additional 1,250 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Simon Property Group were worth $6,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group during the second quarter worth $25,000. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC raised its holdings in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $47,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research reports. Truist Financial increased their target price 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. 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 report on Friday. Argus reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Piper Sandler increased their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Up 0.2%

SPG stock opened at $178.79 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm’s 50-day simple moving average is $179.65 and its 200 day simple moving average is $166.71. The stock has a market cap of $58.37 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 13.09 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, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is currently 132.92%.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock bought 351 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $62,293.25. Following the transaction, 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 purchased a total of 2,163 shares of company stock worth $401,605 over the last ninety days. Insiders own 8.60% of the company’s stock.

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.