CSM Advisors LLC Takes $25.44 Million Position in Simon Property Group, Inc. $SPG

CSM Advisors LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 158,245 shares of the real estate investment trust’s stock, valued at approximately $25,438,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LLC bought a new stake in shares of Simon Property Group during the second quarter worth about $1,196,000. Capital Advisors Inc. OK boosted its stake in Simon Property Group by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after purchasing an additional 2,064 shares during the last quarter. Nordea Investment Management AB increased its holdings in Simon Property Group by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after purchasing an additional 1,607 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in Simon Property Group during the 2nd quarter worth approximately $283,000. Finally, Focus Partners Wealth raised its stake in shares of Simon Property Group by 89.0% in the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock worth $18,959,000 after purchasing an additional 53,764 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In other news, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith purchased 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the transaction, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,163 shares of company stock worth $401,605 over the last 90 days. Corporate insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Barclays lifted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Stifel Nicolaus increased their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $187.69.

Simon Property Group Trading Up 1.6%

Shares of Simon Property Group stock opened at $183.62 on Friday. The firm has a market cap of $59.95 billion, a PE ratio of 28.38, a P/E/G 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 current ratio of 1.23 and a quick ratio of 1.23. The stock has a fifty day moving average price of $180.44 and a 200-day moving average price of $169.63.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $3.05 EPS. The firm’s quarterly 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is 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.