Inspire Investing LLC Raises Stock Position in Simon Property Group, Inc. $SPG

Inspire Investing LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 33,337 shares of the real estate investment trust’s stock after purchasing an additional 1,078 shares during the quarter. Simon Property Group comprises approximately 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 27th biggest position. Inspire Investing LLC’s holdings in Simon Property Group were worth $5,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC boosted its stake in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. lifted its holdings in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC increased its holdings in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the period. WPG Advisers LLC purchased a new position in Simon Property Group during the first quarter valued at approximately $47,000. Finally, Grove Bank & Trust increased its holdings in Simon Property Group by 231.3% during the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 266 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel acquired 208 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were 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 approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 219 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock worth $401,605 in the last 90 days. Insiders own 8.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPG shares. Piper Sandler boosted their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Scotiabank increased their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Finally, Barclays upped 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 report on Monday. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. 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 Price Performance

Simon Property Group stock opened at $175.39 on Friday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market cap of $57.26 billion, a P/E ratio of 27.11, a PEG ratio of 10.83 and a beta of 1.50. The company has a 50-day moving average price of $178.12 and a 200 day moving average price of $165.96. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $2.90 earnings per share. Simon Property Group’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. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm 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. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. 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 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.