M&G PLC Reduces Stake in Simon Property Group, Inc. $SPG

M&G PLC cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 44.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,239 shares of the real estate investment trust’s stock after selling 1,011 shares during the period. M&G PLC’s holdings in Simon Property Group were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SPG. Brighton Jones LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at approximately $295,000. CWM LLC lifted its position in Simon Property Group by 7.7% in the first quarter. CWM LLC now owns 10,453 shares of the real estate investment trust’s stock worth $1,736,000 after buying an additional 748 shares during the last quarter. Sigma Planning Corp boosted its stake in Simon Property Group by 52.2% during the first quarter. Sigma Planning Corp now owns 8,886 shares of the real estate investment trust’s stock worth $1,476,000 after buying an additional 3,047 shares during the period. Larson Financial Group LLC increased its position in Simon Property Group by 76.8% during the first quarter. Larson Financial Group LLC now owns 6,729 shares of the real estate investment trust’s stock valued at $1,118,000 after acquiring an additional 2,923 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its position in Simon Property Group by 14,747.8% during the first quarter. Kingsview Wealth Management LLC now owns 221,232 shares of the real estate investment trust’s stock valued at $36,742,000 after acquiring an additional 219,742 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Evercore ISI lifted their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Piper Sandler raised their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus boosted their target price on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Scotiabank increased their price target on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $189.85.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the business’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 $40,723.05. Following the transaction, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction dated 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 acquisition, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,121 shares of company stock worth $394,400 over the last quarter. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Down 0.1%

Shares of NYSE:SPG opened at $183.55 on Friday. The business’s 50 day moving average is $180.73 and its 200 day moving average is $170.32. The stock has a market cap of $59.93 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. 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 (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $3.05 EPS. Simon Property Group’s 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. Sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a 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 payout ratio is currently 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.