Simon Property Group, Inc. $SPG Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,189,809 shares of the real estate investment trust’s stock after selling 136,636 shares during the period. Simon Property Group accounts for about 0.7% of Los Angeles Capital Management LLC’s holdings, making the stock its 28th biggest position. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $191,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Highland Capital Management LLC acquired a new position in Simon Property Group during the 2nd quarter worth approximately $1,196,000. Capital Advisors Inc. OK boosted its stake in shares of Simon Property Group by 0.5% in the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after buying an additional 2,064 shares in the last quarter. Nordea Investment Management AB grew its holdings in Simon Property Group by 5.7% during the second quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after acquiring an additional 1,607 shares during the period. MinichMacGregor Wealth Management LLC purchased a new position in Simon Property Group in the second quarter worth $283,000. Finally, Focus Partners Wealth lifted its holdings in Simon Property Group by 89.0% in the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after acquiring an additional 53,764 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 464 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $86,280.80. Following the completion of the purchase, the director owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. This represents a 0.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were 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 of the company’s stock, valued at $6,012,321.35. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,163 shares of company stock worth $401,605 in the last ninety days. Company insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH assumed 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. Stifel Nicolaus upped their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday. Argus reiterated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Barclays boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, Piper Sandler raised their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $187.69.

Simon Property Group Trading Up 1.6%

Shares of SPG opened at $183.62 on Friday. 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 firm has a 50 day simple moving average of $180.44 and a 200-day simple moving average of $169.50. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The stock has a market cap of $59.95 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

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.