Westerkirk Capital Inc. Makes New Investment in Simon Property Group, Inc. $SPG

Westerkirk Capital Inc. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, HoldingsChannel reports. The firm bought 7,900 shares of the real estate investment trust’s stock, valued at approximately $1,270,000.

Other large investors have also modified their holdings of the company. Quantbot Technologies LP grew its stake in Simon Property Group by 617.0% in the second quarter. Quantbot Technologies LP now owns 24,147 shares of the real estate investment trust’s stock worth $3,882,000 after purchasing an additional 20,779 shares in the last quarter. M&T Bank Corp lifted its holdings in Simon Property Group by 1.5% during the 2nd quarter. M&T Bank Corp now owns 57,671 shares of the real estate investment trust’s stock worth $9,271,000 after buying an additional 829 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $9,660,000. BLI Banque de Luxembourg Investments bought a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $4,942,000. Finally, Berry Wealth Group LP increased its holdings in shares of Simon Property Group by 9.3% in the 2nd quarter. Berry Wealth Group LP now owns 1,485 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gary M. Rodkin purchased 219 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction 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 represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Glyn Aeppel purchased 208 shares of the stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 2,121 shares of company stock valued at $394,400. Corporate insiders own 8.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Morgan Stanley boosted 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 report on Thursday, September 11th. Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Finally, Scotiabank raised 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 report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $189.93.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $182.10 on Wednesday. The firm’s 50 day moving average is $181.10 and its two-hundred day moving average is $172.42. The firm has a market capitalization of $59.45 billion, a P/E ratio of 28.15, a PEG ratio of 12.73 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $2.20 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 128.09%.

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.