Cascade Investment Group Inc. Decreases Stock Holdings in Simon Property Group, Inc. $SPG

Cascade Investment Group Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,746 shares of the real estate investment trust’s stock after selling 75 shares during the quarter. Simon Property Group accounts for approximately 1.8% of Cascade Investment Group Inc.’s holdings, making the stock its 12th biggest position. Cascade Investment Group Inc.’s holdings in Simon Property Group were worth $2,283,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SPG. Park Square Financial Group LLC raised its position in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its position in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC raised its position in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 156 shares during the last quarter. Colonial Trust Co SC raised its position in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SPG. Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Stifel Nicolaus set a $179.00 price target on Simon Property Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday. Finally, Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price target for the company. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $184.00.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig bought 219 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $34,884.51. Following the purchase, the director owned 31,881 shares of the company’s stock, valued at $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reuben S. Leibowitz bought 522 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 in the last three months. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 0.4%

SPG stock opened at $177.09 on Wednesday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $57.82 billion, a P/E ratio of 27.37, a PEG ratio of 10.66 and a beta of 1.48. The business’s 50-day moving average price is $165.58 and its 200-day moving average price is $164.63.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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 firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned $2.90 EPS. The business’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, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group’s dividend payout ratio is 129.83%.

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.