Simon Property Group, Inc. $SPG Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Simon Property Group, Inc. (NYSE:SPG) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,787 shares of the real estate investment trust’s stock after selling 9,501 shares during the period. Thrivent Financial for Lutherans’ holdings in Simon Property Group were worth $18,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new position in shares of Simon Property Group in the 2nd quarter valued at approximately $25,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group during the second quarter worth $30,000. Bell Investment Advisors Inc grew its position in Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Clearstead Trust LLC increased its stake in Simon Property Group by 68.4% in the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 108 shares during the period. Finally, WPG Advisers LLC purchased a new position in Simon Property Group during the 1st quarter worth $47,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $182.59 on Wednesday. The business has a 50 day moving average price of $180.74 and a 200 day moving average price of $173.95. The company has a market capitalization of $59.61 billion, a P/E ratio of 26.58, a PEG ratio of 8.98 and a beta of 1.37. 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 9.59, a current ratio of 1.44 and a quick ratio of 1.44.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.Simon Property Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.8%. Simon Property Group’s payout ratio is 128.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Citigroup lifted their price objective on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Scotiabank boosted their target price on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. 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. Finally, Barclays upped their price objective on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $189.54.

Insider Activity

In related news, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price 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 in the company, valued at $3,575,632.55. This represents a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,121 shares of company stock worth $394,400 in the last three months. Company insiders own 8.60% 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.