Simon Property Group, Inc. $SPG Shares Bought by Slagle Financial LLC

Slagle Financial LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,987 shares of the real estate investment trust’s stock after acquiring an additional 620 shares during the quarter. Slagle Financial LLC’s holdings in Simon Property Group were worth $2,249,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duff & Phelps Investment Management Co. lifted its stake in shares of Simon Property Group by 0.4% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 859,593 shares of the real estate investment trust’s stock worth $138,188,000 after purchasing an additional 3,745 shares during the period. Y.D. More Investments Ltd lifted its position in Simon Property Group by 15.4% during the second quarter. Y.D. More Investments Ltd now owns 885 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 118 shares during the period. Bell Investment Advisors Inc lifted its position in Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 146 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Simon Property Group by 9.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 122,012 shares of the real estate investment trust’s stock worth $19,615,000 after buying an additional 10,907 shares during the last quarter. Finally, Alberta Investment Management Corp grew its holdings in Simon Property Group by 76.1% in the 2nd quarter. Alberta Investment Management Corp now owns 27,300 shares of the real estate investment trust’s stock valued at $4,389,000 after buying an additional 11,800 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.5%

SPG opened at $182.66 on Monday. The firm has a market capitalization of $59.63 billion, a P/E ratio of 28.23, a P/E/G ratio of 12.73 and a beta of 1.50. The firm’s 50 day moving average is $180.74 and its 200-day moving average is $170.67. 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 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The firm’s quarterly 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. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is presently 128.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Morgan Stanley lifted their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Barclays boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $189.85.

Insider Activity

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel acquired 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 2,121 shares of company stock valued at $394,400 over the last quarter. 8.66% of the stock is owned by company insiders.

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.