Simon Property Group, Inc. $SPG Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 86.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,756 shares of the real estate investment trust’s stock after selling 17,515 shares during the period. TD Waterhouse Canada Inc.’s holdings in Simon Property Group were worth $453,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPG. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group during the second quarter worth about $25,000. VSM Wealth Advisory LLC acquired a new position in Simon Property Group during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc grew its position in Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Clearstead Trust LLC grew its position in Simon Property Group by 68.4% in the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 108 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $47,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Evercore ISI boosted their price objective on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Scotiabank boosted their price target on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Stifel Nicolaus upped their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $190.31.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz purchased 464 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $86,280.80. Following the completion of the acquisition, the director owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost 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 approximately $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,121 shares of company stock valued at $394,400 in the last three months. Insiders own 8.66% of the company’s stock.

Simon Property Group Trading Up 1.8%

Shares of Simon Property Group stock opened at $183.29 on Monday. The business has a fifty day simple moving average of $180.71 and a 200-day simple moving average of $171.40. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a market cap of $59.84 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $3.05 earnings per share. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. 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 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. Investors of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

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.