Empowered Funds LLC Purchases 12,263 Shares of Simon Property Group, Inc. $SPG

Empowered Funds LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 24.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 62,006 shares of the real estate investment trust’s stock after purchasing an additional 12,263 shares during the period. Empowered Funds LLC’s holdings in Simon Property Group were worth $9,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPG. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group during the 2nd quarter valued at about $25,000. Richardson Financial Services Inc. grew its stake in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Clearstead Trust LLC increased its holdings in shares of Simon Property Group by 68.4% during the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 108 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at approximately $47,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several research analyst reports. Stifel Nicolaus boosted 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, November 4th. Evercore ISI boosted their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Morgan Stanley upped their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Piper Sandler raised their target price on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Barclays lifted their price target on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $190.31.

Simon Property Group Trading Up 0.5%

Shares of Simon Property Group stock opened at $181.85 on Wednesday. The stock has a market cap of $59.37 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The firm has a fifty day moving average price of $180.76 and a 200 day moving average price of $170.97. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion for 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%.The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared 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. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Insider Buying and Selling

In other news, 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 cost of $185.95 per share, with a total value of $38,677.60. Following the acquisition, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz bought 464 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased 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 in the company, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,121 shares of company stock valued at $394,400 in the last three months. 8.60% of the stock is currently owned by company insiders.

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.