Vestmark Advisory Solutions Inc. Cuts Stock Position in Simon Property Group, Inc. $SPG

Vestmark Advisory Solutions Inc. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,264 shares of the real estate investment trust’s stock after selling 480 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Simon Property Group were worth $1,168,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPG. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. Richardson Financial Services Inc. grew its holdings in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the last quarter. WPG Advisers LLC purchased a new position in Simon Property Group in the first quarter worth $47,000. TCTC Holdings LLC increased its position in shares of Simon Property Group by 93.5% during the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 186 shares in the last quarter. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of Simon Property Group during the 1st quarter valued at $72,000. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of the stock in a transaction 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 completion of the acquisition, the director owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 2,163 shares of company stock valued at $401,605 over the last ninety days. Corporate insiders own 8.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SPG. Stifel Nicolaus boosted their target price on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Evercore ISI boosted their target price on shares of 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. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $188.85.

Simon Property Group Trading Down 0.3%

Shares of NYSE:SPG opened at $183.07 on Tuesday. 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, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The stock has a market cap of $59.77 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 12.73 and a beta of 1.50. The business has a 50-day moving average price of $180.49 and a 200-day moving average price of $169.93.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $3.05 EPS. Simon Property Group’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current 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 issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is 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.