Callan Family Office LLC Grows Position in Simon Property Group, Inc. $SPG

Callan Family Office LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 218.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,271 shares of the real estate investment trust’s stock after acquiring an additional 4,299 shares during the quarter. Callan Family Office LLC’s holdings in Simon Property Group were worth $1,008,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Great Lakes Advisors LLC boosted 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 worth $317,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital boosted its position in Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC boosted its position in Simon Property Group by 13.6% in the 2nd 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. Sumitomo Life Insurance Co. boosted its position in Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 70 shares in the last quarter. Finally, Aspiriant LLC boosted its position in Simon Property Group by 1.3% in the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 74 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased 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 in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock worth $401,605 in the last quarter. 8.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SPG shares. Barclays upped their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Simon Property Group in a research report on Saturday, September 27th. Truist Financial increased their target price on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Evercore ISI reiterated an “in-line” rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $187.23.

Simon Property Group Stock Down 1.9%

NYSE SPG opened at $175.39 on Monday. The business has a fifty day moving average price of $178.12 and a 200 day moving average price of $165.94. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 company has a market cap of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $2.90 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

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.