Simon Property Group, Inc. $SPG Shares Sold by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,550 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Simon Property Group comprises approximately 1.3% of Chung Wu Investment Group LLC’s portfolio, making the stock its 20th biggest position. Chung Wu Investment Group LLC’s holdings in Simon Property Group were worth $1,214,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of 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 valued at $553,000 after buying an additional 789 shares during the last quarter. MinichMacGregor Wealth Management LLC purchased a new position in shares of Simon Property Group during the second quarter worth about $283,000. Golden State Wealth Management LLC increased its position in Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 509 shares during the period. Focus Partners Wealth raised its stake in Simon Property Group by 89.0% during the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after acquiring an additional 53,764 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after acquiring an additional 1,750 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin acquired 219 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Reuben S. Leibowitz bought 464 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the acquisition, the director directly owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,163 shares of company stock valued at $401,605. 8.60% of the stock is owned by company insiders.

Simon Property Group Trading Up 0.3%

Shares of Simon Property Group stock opened at $185.58 on Monday. The company has a 50-day moving average of $176.78 and a two-hundred day moving average of $165.51. 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. The stock has a market cap of $60.59 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 11.22 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its quarterly 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPG. LADENBURG THALM/SH SH began 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. Evercore ISI reiterated an “in-line” rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Morgan Stanley boosted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Finally, Argus reaffirmed a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $186.46.

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.