MAI Capital Management Raises Stock Position in Simon Property Group, Inc. $SPG

MAI Capital Management boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,131 shares of the real estate investment trust’s stock after acquiring an additional 774 shares during the period. MAI Capital Management’s holdings in Simon Property Group were worth $5,487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SPG. Legacy Wealth Asset Management LLC grew its holdings in Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock worth $2,213,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings 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 purchasing an additional 68 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Simon Property Group by 1.0% in 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 in the last quarter. PFS Partners LLC boosted its position in shares of Simon Property Group by 13.6% in 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 in the last quarter. Finally, Wealth Alliance LLC grew its stake in Simon Property Group by 1.9% during the 2nd quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock worth $618,000 after buying an additional 70 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig acquired 195 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin bought 219 shares of the stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, the director owned 19,229 shares in the company, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 2,121 shares of company stock valued at $394,400. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their price target on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Evercore ISI upped 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 report on Friday, October 17th. Scotiabank lifted their target price on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Finally, Morgan Stanley raised their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $190.31.

Simon Property Group Trading Up 1.8%

SPG stock opened at $183.29 on Friday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business’s 50-day moving average is $180.71 and its 200 day moving average is $171.33. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $59.84 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts anticipate 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 will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s payout ratio is currently 128.09%.

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.