Simon Property Group, Inc. $SPG Holdings Lowered by Vert Asset Management LLC

Vert Asset Management LLC trimmed its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,237 shares of the real estate investment trust’s stock after selling 185 shares during the period. Simon Property Group comprises about 7.2% of Vert Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Vert Asset Management LLC’s holdings in Simon Property Group were worth $19,812,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 789 shares in the last quarter. Golden State Wealth Management LLC lifted its position 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 worth $128,000 after buying an additional 509 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Simon Property Group by 5.7% in the first quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after buying an additional 1,750 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Simon Property Group by 16.3% in the first quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust’s stock worth $34,996,000 after buying an additional 29,479 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in shares of Simon Property Group in the second quarter worth about $283,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Piper Sandler boosted their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Finally, Barclays initiated coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $186.46.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith bought 335 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin bought 219 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Down 0.9%

Shares of SPG stock opened at $185.91 on Thursday. 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 current ratio of 1.23 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $176.01 and its two-hundred day simple moving average is $165.23. The company has a market cap of $60.70 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 11.36 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current 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 paid a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s payout ratio is currently 132.92%.

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.