Simon Property Group, Inc. $SPG Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.3% in the second quarter, HoldingsChannel.com reports. The firm owned 18,018 shares of the real estate investment trust’s stock after buying an additional 747 shares during the period. Plato Investment Management Ltd’s holdings in Simon Property Group were worth $2,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in Simon Property Group during the 2nd quarter valued at $25,000. Park Square Financial Group LLC boosted its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. WPG Advisers LLC bought a new position in Simon Property Group during the 1st quarter valued at $47,000. Finally, TCTC Holdings LLC boosted its stake in Simon Property Group by 93.5% during the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 186 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Stifel Nicolaus lowered Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Scotiabank raised their price objective on 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. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Performance

SPG opened at $175.95 on Friday. The firm has a market cap of $57.45 billion, a PE ratio of 27.19, a P/E/G ratio of 12.73 and a beta of 1.50. The business has a fifty day simple moving average of $180.19 and a 200-day simple moving average of $168.52. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. 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. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s payout ratio is 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $36,260.25. Following the completion of the transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the transaction, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,163 shares of company stock valued at $401,605 over the last quarter. 8.66% of the stock is owned by insiders.

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.