Sage Mountain Advisors LLC Sells 97 Shares of Simon Property Group, Inc. $SPG

Sage Mountain Advisors LLC trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,917 shares of the real estate investment trust’s stock after selling 97 shares during the period. Sage Mountain Advisors LLC’s holdings in Simon Property Group were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $295,000. Golden State Wealth Management LLC grew its stake in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 509 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Simon Property Group by 7.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,249 shares of the real estate investment trust’s stock worth $1,038,000 after buying an additional 437 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Simon Property Group by 24.7% during the first quarter. Creative Financial Designs Inc. ADV now owns 2,021 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 400 shares in the last quarter. Finally, PDS Planning Inc raised its position in Simon Property Group by 7.7% during the first quarter. PDS Planning Inc now owns 1,565 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.2%

SPG opened at $178.27 on Friday. The stock has a fifty day moving average of $180.03 and a 200-day moving average of $167.50. The company has a market capitalization of $58.20 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, Inc. has a fifty-two week low of $136.34 and a fifty-two 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.

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. The business 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 revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insider Activity

In other news, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stefan M. Selig purchased 195 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the transaction, the director directly owned 32,076 shares in the company, valued at $5,964,532.20. This represents a 0.61% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank boosted their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Evercore ISI boosted their price target on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Barclays raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.31.

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.