AlphaQuest LLC Has $572,000 Stock Position in Simon Property Group, Inc. $SPG

AlphaQuest LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 1,432.3% in the 2nd quarter, Holdings Channel reports. The fund owned 3,555 shares of the real estate investment trust’s stock after purchasing an additional 3,323 shares during the period. AlphaQuest LLC’s holdings in Simon Property Group were worth $572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Advisors Inc. OK grew its stake in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after buying an additional 2,064 shares in the last quarter. Nordea Investment Management AB grew its position in Simon Property Group by 5.7% in the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after acquiring an additional 1,607 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth $283,000. Focus Partners Wealth raised its holdings in shares of Simon Property Group by 89.0% during the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after purchasing an additional 53,764 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Simon Property Group by 5.7% in the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock valued at $5,358,000 after purchasing an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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 shares were purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 2,163 shares of company stock valued at $401,605 in the last three months. Company insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPG shares. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Morgan Stanley upped their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. 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 note on Thursday, September 18th. Evercore ISI upped their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Truist Financial lifted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $187.31.

Simon Property Group Stock Down 1.6%

Shares of SPG stock opened at $176.92 on Wednesday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. 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 market cap of $57.76 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 13.18 and a beta of 1.50. The stock has a 50 day moving average of $180.21 and a 200-day moving average of $167.99.

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. The business had revenue of $1.50 billion for 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 previous year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities 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 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%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is presently 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.