Modern Wealth Management LLC Purchases 1,527 Shares of Simon Property Group, Inc. $SPG

Modern Wealth Management LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 5.5% during the 1st quarter, Holdings Channel reports. The fund owned 29,508 shares of the real estate investment trust’s stock after buying an additional 1,527 shares during the period. Modern Wealth Management LLC’s holdings in Simon Property Group were worth $4,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 789 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $295,000. Clark Capital Management Group Inc. purchased a new stake in shares of Simon Property Group in the first quarter worth approximately $39,370,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Simon Property Group in the first quarter worth approximately $895,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $184.01 on Friday. The business’s fifty day simple moving average is $170.41 and its 200 day simple moving average is $164.43. The firm has a market capitalization of $60.08 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 10.85 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $2.90 earnings per share. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 132.92%.

Insider Buying and Selling at Simon Property Group

In related news, Director Glyn Aeppel acquired 234 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares of the company’s stock, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 522 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 $83,149.38. Following the acquisition, the director directly owned 58,195 shares of the company’s stock, valued at $9,269,881.55. The trade was a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,428 shares of company stock valued at $387,271 in the last three months. 8.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPG. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a research note on Tuesday, September 2nd. Argus reissued a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Mizuho lowered their price objective 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. Finally, Truist Financial increased their price objective on 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 research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.54.

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.