Simon Property Group, Inc. $SPG Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,480 shares of the real estate investment trust’s stock after acquiring an additional 601 shares during the quarter. D.A. Davidson & CO.’s holdings in Simon Property Group were worth $4,739,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in Simon Property Group in the second quarter valued at approximately $25,000. Park Square Financial Group LLC increased its stake in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. increased its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC increased its stake in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Simon Property Group in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In related news, Director Larry C. Glasscock purchased 351 shares of the firm’s 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 $65,268.45. Following the completion of the acquisition, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $178.27 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a fifty day moving average price of $180.03 and a 200 day moving average price of $167.31. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a market cap of $58.20 billion, a PE ratio of 27.55, a P/E/G ratio of 13.10 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping 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 last year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 132.92%.

Analyst Ratings Changes

SPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Argus reiterated a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $187.31.

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.