Everett Harris & Co. CA Trims Holdings in Simon Property Group, Inc. $SPG

Everett Harris & Co. CA lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,247 shares of the real estate investment trust’s stock after selling 308 shares during the period. Everett Harris & Co. CA’s holdings in Simon Property Group were worth $7,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Simon Property Group during the 1st quarter valued at about $724,937,000. Massachusetts Financial Services Co. MA purchased a new position in Simon Property Group during the first quarter worth about $197,377,000. Goldman Sachs Group Inc. raised its stake in Simon Property Group by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after purchasing an additional 604,016 shares during the period. Resolution Capital Ltd boosted its holdings in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after purchasing an additional 565,084 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $68,013,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.1%

Shares of NYSE SPG opened at $184.99 on Wednesday. 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 capitalization of $60.40 billion, a PE ratio of 28.59, a PEG ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock has a fifty day simple moving average of $180.61 and a 200-day simple moving average of $170.13.

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 company 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%.Simon Property Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $2.20 dividend. 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 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s payout ratio is 128.09%.

Insider Transactions at Simon Property Group

In related news, Director Gary M. Rodkin acquired 219 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SPG shares. Scotiabank lifted their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Barclays increased their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, Stifel Nicolaus boosted their price objective 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. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $188.85.

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.