Private Trust Co. NA Sells 101 Shares of Simon Property Group, Inc. $SPG

Private Trust Co. NA cut its holdings in Simon Property Group, Inc. (NYSE:SPG) by 3.0% during the 2nd quarter, Holdings Channel reports. The fund owned 3,281 shares of the real estate investment trust’s stock after selling 101 shares during the period. Private Trust Co. NA’s holdings in Simon Property Group were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Great Lakes Advisors LLC raised its position in Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 68 shares during the period. Wedmont Private Capital raised its position in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after acquiring an additional 68 shares during the period. PFS Partners LLC raised its position in shares of 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 valued at $91,000 after purchasing an additional 68 shares during the period. Sumitomo Life Insurance Co. raised its position in shares of 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 valued at $743,000 after purchasing an additional 70 shares during the period. Finally, HighPoint Advisor Group LLC raised its position in shares of Simon Property Group by 2.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 75 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Argus restated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Finally, Evercore ISI raised their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $187.31.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $178.23 on Monday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. 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’s fifty day moving average is $179.20 and its two-hundred day moving average is $166.40. The company has a market cap of $58.19 billion, a P/E ratio of 27.55, a P/E/G ratio of 13.06 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 EPS 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 analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $2.90 EPS. The firm’s revenue for the quarter 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. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Activity

In other news, Director Reuben S. Leibowitz purchased 464 shares of the company’s 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 $86,280.80. Following the purchase, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Rodkin purchased 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased 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 $3,575,632.55. This trade represents a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock worth $401,605 in the last 90 days. Company insiders own 8.60% of the company’s stock.

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.