LRI Investments LLC Sells 172 Shares of Simon Property Group, Inc. $SPG

LRI Investments LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,089 shares of the real estate investment trust’s stock after selling 172 shares during the period. LRI Investments LLC’s holdings in Simon Property Group were worth $336,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SPG. Brighton Jones LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $295,000. Farther Finance Advisors LLC boosted its stake in Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 789 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Simon Property Group by 9.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust’s stock valued at $4,294,000 after buying an additional 2,194 shares during the period. Sound Income Strategies LLC boosted its stake in Simon Property Group by 5.6% during the first quarter. Sound Income Strategies LLC now owns 111,616 shares of the real estate investment trust’s stock valued at $18,537,000 after buying an additional 5,907 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Simon Property Group by 27.1% during the first quarter. Exchange Traded Concepts LLC now owns 69,465 shares of the real estate investment trust’s stock valued at $11,537,000 after buying an additional 14,829 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.9%

Shares of NYSE:SPG opened at $175.39 on Monday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market cap of $57.26 billion, a PE ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s 50-day moving average is $178.12 and its 200 day moving average is $165.94.

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

Simon Property Group Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on SPG. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Evercore ISI restated an “in-line” rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Piper Sandler raised their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Finally, Scotiabank raised their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $187.23.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 464 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the acquisition, the director directly owned 58,659 shares in the company, valued at approximately $10,907,641.05. This trade represents 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 at this link. Also, Director Larry C. Glasscock acquired 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,163 shares of company stock worth $401,605 over the last 90 days. 8.66% of the stock is owned by insiders.

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.