CORDA Investment Management LLC. Sells 1,117 Shares of Simon Property Group, Inc. $SPG

CORDA Investment Management LLC. reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 211,516 shares of the real estate investment trust’s stock after selling 1,117 shares during the quarter. Simon Property Group comprises 2.5% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 16th largest position. CORDA Investment Management LLC.’s holdings in Simon Property Group were worth $34,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SPG. Capital Advisors Inc. OK lifted its position in Simon Property Group by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after buying an additional 2,064 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in Simon Property Group during the 2nd quarter worth about $283,000. Focus Partners Wealth lifted its position in Simon Property Group by 89.0% during the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock worth $18,959,000 after buying an additional 53,764 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 509 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after buying an additional 1,750 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the transaction, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,163 shares of company stock worth $401,605. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 0.8%

Shares of SPG opened at $178.23 on Monday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The firm has a market cap of $58.19 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. The firm’s 50-day simple moving average is $179.20 and its 200 day simple moving average is $166.40. 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, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.90 EPS. Simon Property Group’s quarterly revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Wall Street Analyst Weigh In

SPG has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Argus restated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Truist Financial boosted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $187.31.

Simon Property Group Company 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.