Simon Property Group, Inc. $SPG Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC cut its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,799 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Simon Property Group were worth $289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after buying an additional 267,503 shares during the period. Northern Trust Corp boosted its holdings in Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new position in Simon Property Group in the first quarter valued at about $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Simon Property Group by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after purchasing an additional 23,873 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 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, for a total transaction of $40,723.05. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director 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 disclosure for this purchase can be found here. In the last three months, insiders acquired 2,163 shares of company stock worth $401,605. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Trading Up 0.8%

NYSE:SPG opened at $178.23 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The business’s 50 day moving average is $179.20 and its two-hundred day moving average is $166.40. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a market cap of $58.19 billion, a PE ratio of 27.55, a P/E/G ratio of 13.06 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts predict 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. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial increased their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Barclays increased their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Scotiabank increased their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $187.31.

About Simon Property Group

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.