Simon Property Group, Inc. $SPG Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,981 shares of the real estate investment trust’s stock after purchasing an additional 2,039 shares during the quarter. Amalgamated Bank’s holdings in Simon Property Group were worth $10,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC raised its stake in Simon Property Group by 0.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Simon Property Group by 3.7% during 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 acquiring an additional 68 shares during the last quarter. Wedmont Private Capital increased its stake in shares of 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 valued at $1,147,000 after acquiring an additional 68 shares during the last quarter. PFS Partners LLC increased its stake 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 acquiring an additional 68 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its stake 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 acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.1%

SPG opened at $173.46 on Friday. The firm has a 50 day moving average price of $180.20 and a 200 day moving average price of $168.21. The company has a market cap of $56.63 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year 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 posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 5.0%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 132.92%.

Insider Buying and Selling

In other news, Director Glyn Aeppel acquired 208 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock acquired 351 shares of the stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 2,163 shares of company stock valued at $401,605 over the last three months. Company insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Truist Financial upped 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 note on Monday, August 25th. Morgan Stanley upped their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Finally, Piper Sandler upped their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $187.31.

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.