Journey Strategic Wealth LLC Increases Stake in Simon Property Group, Inc. $SPG

Journey Strategic Wealth LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 17.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the real estate investment trust’s stock after acquiring an additional 428 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Simon Property Group were worth $453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Simon Property Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock valued at $7,369,128,000 after purchasing an additional 149,314 shares in the last quarter. Geode Capital Management LLC increased its holdings in Simon Property Group by 1.3% in the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after buying an additional 1,660,188 shares in 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 in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Simon Property Group in the first quarter worth about $724,937,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 464 shares of the company’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 $86,280.80. Following the purchase, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. The trade was a 0.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,121 shares of company stock valued at $394,400 in the last ninety days. 8.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of analyst reports. Barclays raised their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th. Evercore ISI raised their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Stifel Nicolaus boosted their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Truist Financial increased their target price on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Finally, Morgan Stanley lifted their price target on shares of 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. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $190.31.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $183.29 on Friday. The stock has a market capitalization of $59.84 billion, a P/E ratio of 28.33, a PEG ratio of 12.73 and a beta of 1.50. The business has a 50 day simple moving average of $180.71 and a two-hundred day simple moving average of $171.33. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The firm’s revenue for the quarter 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. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

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.