Simon Property Group, Inc. $SPG Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,958 shares of the real estate investment trust’s stock after selling 216 shares during the quarter. Freedom Investment Management Inc.’s holdings in Simon Property Group were worth $315,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Simon Property Group by 0.6% in the first 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 buying an additional 267,503 shares during the last quarter. Northern Trust Corp increased its holdings 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 valued at $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 valued at $805,853,000 after buying an additional 141,657 shares during the last quarter. Nuveen LLC bought a new stake in Simon Property Group in the first quarter valued at about $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Simon Property Group by 0.7% in the first 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 buying an additional 23,873 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Gary M. Rodkin acquired 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the acquisition, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz acquired 464 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $86,280.80. Following the completion of the acquisition, the director directly owned 58,659 shares in the company, valued at approximately $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,163 shares of company stock worth $401,605. 8.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SPG. Argus reissued 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 boosted their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Truist Financial boosted their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Barclays upped their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $187.31.

Simon Property Group Stock Down 0.2%

NYSE:SPG opened at $178.27 on Monday. The firm has a market capitalization of $58.20 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. The stock has a 50 day moving average of $180.03 and a 200-day moving average of $167.60. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $2.90 EPS. The business’s revenue for the quarter 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. Analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Simon Property Group 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.