Simon Property Group, Inc. $SPG Stake Cut by Ellevest Inc.

Ellevest Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,361 shares of the real estate investment trust’s stock after selling 438 shares during the period. Ellevest Inc.’s holdings in Simon Property Group were worth $540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Inc. OK increased its holdings in shares of 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 valued at $63,300,000 after acquiring an additional 2,064 shares during the last quarter. Nordea Investment Management AB grew its holdings in Simon Property Group by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock valued at $4,731,000 after buying an additional 1,607 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at approximately $1,196,000. MinichMacGregor Wealth Management LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at approximately $283,000. Finally, Focus Partners Wealth grew its holdings in Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after buying an additional 53,764 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Simon Property Group stock opened at $181.36 on Thursday. 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 company has a market capitalization of $59.21 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The business has a 50 day simple moving average of $180.36 and a 200 day simple moving average of $169.16.

Simon Property Group (NYSE:SPG) last posted its 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. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts forecast 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 given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith acquired 335 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased 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 $6,012,321.35. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin acquired 219 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 $40,723.05. Following the transaction, the director owned 19,229 shares in the company, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Truist Financial raised their target price on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Argus reaffirmed a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Scotiabank raised their target price on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Finally, Evercore ISI raised their target price 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. 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, the company presently has an average rating of “Hold” and a consensus price target of $187.69.

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.