Triad Wealth Partners LLC Purchases 219 Shares of Simon Property Group, Inc. $SPG

Triad Wealth Partners LLC grew its position in Simon Property Group, Inc. (NYSE:SPGFree Report) by 16.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,538 shares of the real estate investment trust’s stock after purchasing an additional 219 shares during the period. Triad Wealth Partners LLC’s holdings in Simon Property Group were worth $247,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Simon Property Group in the 1st quarter valued at about $724,937,000. Principal Financial Group Inc. grew its holdings in shares of Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after acquiring an additional 1,830,264 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Simon Property Group during the first quarter valued at approximately $197,377,000. Goldman Sachs Group Inc. lifted its holdings in Simon Property Group by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after acquiring an additional 604,016 shares during the period. Finally, Resolution Capital Ltd boosted its position in Simon Property Group by 45.8% in the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after purchasing an additional 565,084 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SPG shares. Evercore ISI reaffirmed an “in-line” rating and set a $187.00 target price (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Barclays assumed coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price target for the company. Scotiabank lifted their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Truist Financial increased their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.46.

View Our Latest Research Report on Simon Property Group

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 464 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the transaction, the director owned 58,659 shares in the company, valued at $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Rodkin acquired 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the purchase, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 0.3%

Shares of Simon Property Group stock opened at $185.58 on Friday. The stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.20 and a beta of 1.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50-day simple moving average is $176.78 and its 200 day simple moving average is $165.50.

Simon Property Group (NYSE:SPGGet Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is an increase 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 (DPR) is currently 132.92%.

Simon Property Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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