Lecap Asset Management Ltd. Has $1.93 Million Holdings in Simon Property Group, Inc. $SPG

Lecap Asset Management Ltd. raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 426.7% during the second quarter, HoldingsChannel.com reports. The firm owned 11,973 shares of the real estate investment trust’s stock after acquiring an additional 9,700 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Simon Property Group were worth $1,925,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPG. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter valued at about $295,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Simon Property Group by 36.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after acquiring an additional 6,293 shares during the period. AdvisorNet Financial Inc raised its position in shares of 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 valued at $36,000 after acquiring an additional 95 shares during the period. NBC Securities Inc. raised its position in shares of Simon Property Group by 234,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,350 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 2,349 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of Simon Property Group by 84.8% in the 1st quarter. Merit Financial Group LLC now owns 4,465 shares of the real estate investment trust’s stock valued at $742,000 after acquiring an additional 2,049 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stefan M. Selig acquired 195 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the acquisition, the director directly owned 32,076 shares in the company, valued at $5,964,532.20. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel C. Smith acquired 335 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

SPG has been the topic of a number of analyst reports. Argus reiterated a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Morgan Stanley increased their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Barclays initiated coverage on shares of 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. Truist Financial increased their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Finally, Scotiabank increased their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $186.46.

Simon Property Group Stock Performance

NYSE:SPG opened at $185.91 on Thursday. The stock’s 50-day moving average is $176.01 and its 200-day moving average is $165.23. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $60.70 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 11.36 and a beta of 1.50. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.40 billion. During the same period in the previous year, the firm earned $2.90 earnings per share. The company’s 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is presently 132.92%.

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.