HBK Sorce Advisory LLC Invests $546,000 in Simon Property Group, Inc. $SPG

HBK Sorce Advisory LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,062 shares of the real estate investment trust’s stock, valued at approximately $546,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Trust Co. of Toledo NA OH purchased a new stake in Simon Property Group during the second quarter valued at about $25,000. Silicon Valley Capital Partners purchased a new position in shares of Simon Property Group in the second quarter worth approximately $30,000. VSM Wealth Advisory LLC acquired a new stake in shares of Simon Property Group during the second quarter valued at approximately $30,000. Bell Investment Advisors Inc lifted its position in shares of 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 acquiring an additional 146 shares in the last quarter. Finally, Clearstead Trust LLC lifted its position in shares of 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 acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In other news, Director Daniel C. Smith purchased 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $62,293.25. Following the completion of the transaction, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan M. Selig bought 195 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 2,121 shares of company stock valued at $394,400. Insiders own 8.66% of the company’s stock.

Simon Property Group Trading Up 0.4%

NYSE:SPG opened at $188.29 on Friday. The stock’s 50 day moving average price is $182.02 and its 200 day moving average price is $174.97. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a market capitalization of $61.47 billion, a P/E ratio of 27.41, a P/E/G ratio of 9.18 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44.

Simon Property Group (NYSE:SPG) last released its quarterly 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. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. Simon Property Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business 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 $2.20 dividend. 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 4.7%. Simon Property Group’s dividend payout ratio is presently 128.09%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPG shares. Barclays increased their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Evercore ISI raised their price objective on 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. Scotiabank upped their target price on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Finally, Morgan Stanley increased their price target on shares of 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. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $190.46.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.