Belpointe Asset Management LLC Sells 86 Shares of Simon Property Group, Inc. $SPG

Belpointe Asset Management LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,968 shares of the real estate investment trust’s stock after selling 86 shares during the period. Belpointe Asset Management LLC’s holdings in Simon Property Group were worth $638,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Simon Property Group in the 1st quarter worth $724,937,000. Principal Financial Group Inc. boosted its stake in Simon Property Group by 133.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock worth $532,529,000 after purchasing an additional 1,830,264 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Simon Property Group in the 1st quarter worth $197,377,000. Goldman Sachs Group Inc. boosted its stake in Simon Property Group by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock worth $494,267,000 after purchasing an additional 604,016 shares during the period. Finally, Resolution Capital Ltd boosted its stake in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after purchasing an additional 565,084 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPG. Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Simon Property Group in a research note on Saturday, September 27th. Evercore ISI restated an “in-line” rating and set a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Finally, Barclays increased their price objective 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 Monday. 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 presently has an average rating of “Hold” and an average target price of $187.23.

Simon Property Group Stock Up 0.4%

Shares of SPG stock opened at $178.87 on Friday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The firm’s 50-day moving average is $177.83 and its 200-day moving average is $165.90. The stock has a market cap of $58.40 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 10.79 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.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is currently 132.92%.

Insider Buying and Selling

In other news, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,163 shares of company stock worth $401,605 in the last 90 days. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Company 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.