4,419 Shares in Simon Property Group, Inc. $SPG Bought by LDR Capital Management LLC

LDR Capital Management LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the third quarter, HoldingsChannel reports. The firm acquired 4,419 shares of the real estate investment trust’s stock, valued at approximately $829,000. Simon Property Group accounts for approximately 1.2% of LDR Capital Management LLC’s holdings, making the stock its 23rd biggest holding.

Several other large investors have also recently made changes to their positions in SPG. Root Financial Partners LLC bought a new position in Simon Property Group during the third quarter valued at approximately $63,000. Pacific Heights Asset Management LLC raised its holdings in shares of Simon Property Group by 25.0% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 125,000 shares of the real estate investment trust’s stock worth $23,459,000 after acquiring an additional 25,000 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Simon Property Group by 37.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 5,870 shares of the real estate investment trust’s stock valued at $1,102,000 after acquiring an additional 1,586 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Simon Property Group by 66.6% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 2,252 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 900 shares in the last quarter. Finally, Allstate Corp lifted its position in Simon Property Group by 155.4% during the third quarter. Allstate Corp now owns 19,738 shares of the real estate investment trust’s stock valued at $3,704,000 after purchasing an additional 12,011 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on SPG shares. Morgan Stanley set a $205.00 price target on shares of Simon Property Group in a report on Friday. Truist Financial lifted their target price on Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a report on Wednesday, December 17th. 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. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Finally, Mizuho set a $192.00 target price on shares of Simon Property Group in a research note on Friday, January 9th. Six equities research 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 company presently has a consensus rating of “Hold” and an average price target of $194.64.

Insider Activity at Simon Property Group

In related news, Director Gary M. Rodkin acquired 226 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $42,036.00. Following the completion of the acquisition, the director directly owned 19,455 shares of the company’s stock, valued at $3,618,630. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel purchased 216 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the purchase, the director owned 19,481 shares in the company, valued at approximately $3,623,466. The trade was a 1.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 2,192 shares of company stock worth $407,712 in the last 90 days. 8.60% of the stock is owned by insiders.

Simon Property Group Trading Up 0.2%

NYSE:SPG opened at $185.21 on Tuesday. The firm has a 50-day simple moving average of $184.15 and a 200-day simple moving average of $178.20. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The firm has a market cap of $60.46 billion, a P/E ratio of 26.96, a P/E/G ratio of 8.81 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 EPS for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities analysts anticipate 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 was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Simon Property Group Company Profile

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.