Welch Group LLC Has $478,000 Stock Position in Simon Property Group, Inc. $SPG

Welch Group LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,972 shares of the real estate investment trust’s stock after acquiring an additional 452 shares during the quarter. Welch Group LLC’s holdings in Simon Property Group were worth $478,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SPG. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group during the second quarter worth $25,000. Park Square Financial Group LLC boosted its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in Simon Property Group in the first quarter valued at $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Barclays raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Truist Financial boosted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a research note on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $187.23.

Simon Property Group Stock Performance

SPG opened at $175.39 on Monday. The business has a fifty day simple moving average of $178.12 and a 200 day simple moving average of $165.94. 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. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last released 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. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Insider Transactions at Simon Property Group

In related news, Director Daniel C. Smith purchased 335 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,163 shares of company stock worth $401,605. Company insiders own 8.66% of the company’s stock.

About Simon Property Group

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.