Hilltop National Bank Takes $192,000 Position in Simon Property Group, Inc. $SPG

Hilltop National Bank acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,193 shares of the real estate investment trust’s stock, valued at approximately $192,000.

A number of other large investors also recently modified their holdings of the company. Park Square Financial Group LLC lifted its position in Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Simon Property Group by 185.0% during 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 during the last quarter. Continuum Advisory LLC lifted its position in Simon Property Group by 421.6% during 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 during the last quarter. WPG Advisers LLC bought a new stake in Simon Property Group during the first quarter valued at approximately $47,000. Finally, Grove Bank & Trust lifted its position in Simon Property Group by 231.3% during the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 266 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 0.3%

Shares of SPG opened at $185.58 on Friday. The firm has a market cap of $60.59 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 11.22 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a 50 day moving average price of $176.78 and a 200-day moving average price of $165.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $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. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. 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%. Simon Property Group’s payout ratio is presently 132.92%.

Insider Buying and Selling

In other news, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Larry C. Glasscock bought 351 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock valued at $401,605 over the last quarter. Company insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SPG shares. Barclays started 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 target price for the company. Truist Financial lifted 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. Scotiabank lifted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Finally, Piper Sandler boosted their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.46.

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.