Simon Property Group, Inc. $SPG Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,304 shares of the real estate investment trust’s stock after selling 613 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Simon Property Group were worth $531,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK raised its holdings in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after purchasing an additional 2,064 shares in the last quarter. Farther Finance Advisors LLC raised its stake in 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 in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Simon Property Group in the second quarter valued at $283,000. Focus Partners Wealth raised its stake in Simon Property Group by 89.0% in the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after buying an additional 53,764 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin acquired 219 shares of the company’s stock in a transaction 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 purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glyn Aeppel acquired 208 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by company insiders.

Simon Property Group Trading Down 1.9%

NYSE SPG opened at $175.39 on Friday. 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 firm has a market cap of $57.26 billion, a PE ratio of 27.11, a P/E/G ratio of 10.83 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The firm’s fifty day moving average is $178.12 and its two-hundred day moving average is $165.96.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $2.15 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group’s payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial raised their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Argus reissued a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Stifel Nicolaus lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Simon Property Group in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $187.23.

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.