Simon Property Group, Inc. $SPG Stake Boosted by Welch Group LLC

Welch Group LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,972 shares of the real estate investment trust’s stock after buying an additional 452 shares during the quarter. Welch Group LLC’s holdings in Simon Property Group were worth $478,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SPG. Great Lakes Advisors LLC increased its stake in shares of Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 68 shares during the period. Wedmont Private Capital raised its holdings in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 68 shares during the last quarter. PFS Partners LLC raised its holdings in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 70 shares during the last quarter. Finally, Aspiriant LLC raised its holdings in Simon Property Group by 1.3% during the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 74 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of SPG stock opened at $175.39 on Monday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. 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 firm has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. The firm has a fifty day moving average of $178.12 and a 200-day moving average of $165.94.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned $2.90 earnings per share. The company’s 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. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Evercore ISI reiterated 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 report on Monday, September 15th. 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 report on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Barclays lifted their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $187.23.

Insider Buying and Selling

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 price 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 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 can be accessed through the SEC website. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was 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 owned 19,229 shares in the company, valued at approximately $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 three months, insiders have acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by corporate insiders.

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.