CX Institutional Purchases 313 Shares of Simon Property Group, Inc. $SPG

CX Institutional boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 23.3% during the 2nd quarter, Holdings Channel reports. The fund owned 1,654 shares of the real estate investment trust’s stock after buying an additional 313 shares during the period. CX Institutional’s holdings in Simon Property Group were worth $266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its holdings in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 95 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Simon Property Group in the first quarter valued at approximately $47,000. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry C. Glasscock bought 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares of the company’s stock, valued at $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,428 shares of company stock worth $387,271 in the last 90 days. 8.66% of the stock is owned by company insiders.

Simon Property Group Stock Performance

NYSE:SPG opened at $185.29 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 business has a fifty day simple moving average of $174.72 and a two-hundred day simple moving average of $164.71. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market capitalization of $60.50 billion, a P/E ratio of 28.64, a P/E/G ratio of 11.23 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $2.90 earnings per share. The business’s revenue for the quarter 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, analysts expect 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 disclosed 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 represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Piper Sandler raised their target price on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. lifted their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Four 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.46.

Simon Property Group Company 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.