PDS Planning Inc Raises Stock Position in Simon Property Group, Inc. $SPG

PDS Planning Inc grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,682 shares of the real estate investment trust’s stock after acquiring an additional 117 shares during the period. PDS Planning Inc’s holdings in Simon Property Group were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPG. Brighton Jones LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $295,000. Farther Finance Advisors LLC raised its position in shares of Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 789 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Simon Property Group by 9.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust’s stock worth $4,294,000 after buying an additional 2,194 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Simon Property Group by 5.6% during the first quarter. Sound Income Strategies LLC now owns 111,616 shares of the real estate investment trust’s stock worth $18,537,000 after acquiring an additional 5,907 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Simon Property Group by 27.1% during the first quarter. Exchange Traded Concepts LLC now owns 69,465 shares of the real estate investment trust’s stock valued at $11,537,000 after acquiring an additional 14,829 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.9%

SPG opened at $175.39 on Monday. The stock has a 50-day moving average of $178.12 and a 200 day moving average of $165.94. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a market cap of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $2.90 EPS. The company’s revenue for the quarter 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, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is presently 132.92%.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Reuben S. Leibowitz bought 464 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $86,280.80. Following the transaction, the director directly owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock worth $401,605 in the last three months. 8.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler boosted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price on the stock. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Finally, Morgan Stanley upped their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $187.23.

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.