Cascade Investment Advisors Inc. Has $1.71 Million Stock Position in Simon Property Group, Inc. $SPG

Cascade Investment Advisors Inc. lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,643 shares of the real estate investment trust’s stock after selling 275 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Simon Property Group were worth $1,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Capital Advisors Inc. OK boosted its stake in Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after purchasing an additional 2,064 shares during the period. Farther Finance Advisors LLC raised its position in Simon Property Group by 31.1% in the 1st 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. MinichMacGregor Wealth Management LLC acquired a new stake in Simon Property Group in the 2nd quarter valued at approximately $283,000. Focus Partners Wealth lifted its stake in Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after acquiring an additional 53,764 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 509 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPG. Argus restated a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Scotiabank raised their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Stifel Nicolaus lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. Truist Financial lifted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 target price (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $187.23.

Simon Property Group Stock Down 1.9%

Shares of NYSE:SPG opened at $175.39 on Monday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a market capitalization of $57.26 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a fifty day moving average of $178.12 and a 200-day moving average of $165.94.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 EPS. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal 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 paid a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin purchased 219 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by insiders.

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.