Conning Inc. Sells 82 Shares of Simon Property Group, Inc. $SPG

Conning Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,089 shares of the real estate investment trust’s stock after selling 82 shares during the period. Conning Inc.’s holdings in Simon Property Group were worth $336,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group during the second quarter valued at about $25,000. Inspire Investing LLC boosted its stake in Simon Property Group by 3.3% during the 2nd quarter. Inspire Investing LLC now owns 33,337 shares of the real estate investment trust’s stock valued at $5,359,000 after purchasing an additional 1,078 shares during the period. Aberdeen Group plc boosted its stake in Simon Property Group by 5.2% during the 2nd quarter. Aberdeen Group plc now owns 651,785 shares of the real estate investment trust’s stock valued at $104,781,000 after purchasing an additional 32,235 shares during the period. PDS Planning Inc boosted its stake in Simon Property Group by 7.5% during the 2nd quarter. PDS Planning Inc now owns 1,682 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 117 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Simon Property Group by 41.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,232 shares of the real estate investment trust’s stock valued at $1,002,000 after purchasing an additional 1,835 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

NYSE:SPG opened at $175.39 on Friday. The company has a 50-day moving average of $178.12 and a 200-day moving average of $165.94. The company has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 10.61 and a beta of 1.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

Insider Activity at Simon Property Group

In other news, Director Daniel C. Smith bought 335 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,163 shares of company stock valued at $401,605. Insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPG. Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a research report on Tuesday, September 2nd. LADENBURG THALM/SH SH initiated 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 for the company. Argus reissued a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Truist Financial increased their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Finally, Morgan Stanley increased their target price 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 investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $187.23.

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.