Soltis Investment Advisors LLC Acquires 772 Shares of Simon Property Group, Inc. $SPG

Soltis Investment Advisors LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 23,181 shares of the real estate investment trust’s stock after purchasing an additional 772 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Simon Property Group were worth $3,727,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Achmea Investment Management B.V. grew its position in Simon Property Group by 0.3% during the 2nd quarter. Achmea Investment Management B.V. now owns 130,329 shares of the real estate investment trust’s stock worth $20,952,000 after acquiring an additional 443 shares during the last quarter. Andra AP fonden grew its holdings in shares of Simon Property Group by 20.1% in the second quarter. Andra AP fonden now owns 170,400 shares of the real estate investment trust’s stock worth $27,394,000 after purchasing an additional 28,500 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Simon Property Group by 9.3% in the second quarter. Moors & Cabot Inc. now owns 1,350 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 115 shares during the period. Huntington National Bank increased its stake in shares of Simon Property Group by 6.3% in the second quarter. Huntington National Bank now owns 66,732 shares of the real estate investment trust’s stock worth $10,728,000 after buying an additional 3,975 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Simon Property Group by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,330,247 shares of the real estate investment trust’s stock valued at $374,611,000 after buying an additional 94,135 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin purchased 219 shares of the stock in a transaction dated Tuesday, September 30th. The shares were purchased 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 464 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $86,280.80. Following the acquisition, the director directly owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 2,163 shares of company stock valued at $401,605. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $181.36 on Thursday. The stock has a fifty day simple moving average of $180.36 and a two-hundred day simple moving average of $169.16. The company has a market cap of $59.21 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. 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, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $3.05 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.9%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Evercore ISI upped their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Morgan Stanley increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Argus reissued a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Truist Financial boosted their price objective 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 investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $187.69.

About Simon Property Group

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.