O ROURKE & COMPANY Inc Has $331,000 Position in Simon Property Group, Inc. $SPG

O ROURKE & COMPANY Inc cut its position in Simon Property Group, Inc. (NYSE:SPG) by 14.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,059 shares of the real estate investment trust’s stock after selling 358 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Simon Property Group were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp raised its position in shares of Simon Property Group by 3.0% in the 2nd quarter. Truist Financial Corp now owns 39,433 shares of the real estate investment trust’s stock valued at $6,339,000 after buying an additional 1,157 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Simon Property Group by 87.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 131,791 shares of the real estate investment trust’s stock valued at $21,187,000 after buying an additional 61,505 shares in the last quarter. Venture Visionary Partners LLC raised its position in shares of Simon Property Group by 2.6% in the 2nd quarter. Venture Visionary Partners LLC now owns 22,005 shares of the real estate investment trust’s stock valued at $3,538,000 after buying an additional 559 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Simon Property Group by 6.3% in the 2nd quarter. Sound Income Strategies LLC now owns 118,621 shares of the real estate investment trust’s stock valued at $19,070,000 after buying an additional 7,005 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Simon Property Group by 1.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 192,295 shares of the real estate investment trust’s stock worth $30,913,000 after purchasing an additional 2,150 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.1%

Shares of NYSE SPG opened at $187.89 on Wednesday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The firm has a 50 day moving average price of $175.60 and a two-hundred day moving average price of $165.08. The stock has a market cap of $61.34 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 11.25 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $2.90 EPS. The company’s revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.6%. Simon Property Group’s dividend payout ratio is currently 132.92%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research analyst reports. Evercore ISI reiterated an “in-line” rating and set a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Finally, Argus reiterated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average target price of $186.46.

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.