Frank Rimerman Advisors LLC Sells 350 Shares of Simon Property Group, Inc. $SPG

Frank Rimerman Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,475 shares of the real estate investment trust’s stock after selling 350 shares during the period. Frank Rimerman Advisors LLC’s holdings in Simon Property Group were worth $1,202,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC raised its holdings in shares of Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 66 shares during the last quarter. Great Lakes Advisors LLC increased its position in Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 68 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after acquiring an additional 68 shares during the last quarter. PFS Partners LLC lifted its position in shares of Simon Property Group by 13.6% during the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Finally, Wealth Alliance LLC grew its stake in shares of Simon Property Group by 1.9% during the second quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock valued at $618,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity

In other news, Director Larry C. Glasscock acquired 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 2,121 shares of company stock valued at $394,400. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Up 0.5%

Shares of Simon Property Group stock opened at $181.85 on Wednesday. The business has a fifty day simple moving average of $180.76 and a 200 day simple moving average of $170.97. The stock has a market cap of $59.37 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. 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 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company 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 dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is 128.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPG. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Truist Financial raised their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Stifel Nicolaus boosted their price objective on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, Barclays raised their target price on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.31.

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.