PDS Planning Inc Increases Stake in Simon Property Group, Inc. $SPG

PDS Planning Inc raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,682 shares of the real estate investment trust’s stock after purchasing an additional 117 shares during the quarter. PDS Planning Inc’s holdings in Simon Property Group were worth $270,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Simon Property Group by 41.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 6,232 shares of the real estate investment trust’s stock valued at $1,002,000 after buying an additional 1,835 shares during the last quarter. IFP Advisors Inc lifted its position in Simon Property Group by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 4,281 shares of the real estate investment trust’s stock valued at $692,000 after acquiring an additional 187 shares in the last quarter. Callan Family Office LLC boosted its stake in Simon Property Group by 218.0% during the 2nd quarter. Callan Family Office LLC now owns 6,271 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 4,299 shares during the last quarter. Leo Wealth LLC purchased a new stake in Simon Property Group during the 2nd quarter valued at $226,000. Finally, US Bancorp DE increased its holdings in shares of Simon Property Group by 3.7% in the 2nd quarter. US Bancorp DE now owns 61,566 shares of the real estate investment trust’s stock worth $9,897,000 after purchasing an additional 2,224 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 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 $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock acquired 351 shares of the stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This 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 in the last ninety days. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price target on the stock. Evercore ISI restated an “in-line” rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Barclays raised their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Truist Financial increased their price objective 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. Finally, Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $187.23.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $175.39 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market capitalization of $57.26 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. The firm’s 50 day moving average price is $178.12 and its 200-day moving average price is $165.94. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last announced its 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 net margin of 36.78% and a return on equity of 72.38%. The company 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 earnings per share. The firm’s quarterly 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 expect 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. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is 132.92%.

Simon Property Group Company 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.