Simon Property Group, Inc. $SPG Stake Cut by Gables Capital Management Inc.

Gables Capital Management Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940 shares of the real estate investment trust’s stock after selling 475 shares during the period. Gables Capital Management Inc.’s holdings in Simon Property Group were worth $473,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in Simon Property Group in the 2nd quarter worth about $25,000. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in Simon Property Group in the 1st quarter worth about $47,000. 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 Stefan M. Selig bought 195 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $36,260.25. Following the acquisition, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This represents a 0.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin bought 219 shares of the stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the acquisition, the director directly owned 19,229 shares in the company, valued at approximately $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. Over the last three months, insiders have acquired 2,163 shares of company stock worth $401,605. Insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SPG shares. Barclays raised their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Evercore ISI raised their price target on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday. Truist Financial raised their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Finally, Stifel Nicolaus downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $187.31.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $178.79 on Wednesday. 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 has a market cap of $58.37 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 13.09 and a beta of 1.50. The business’s 50-day simple moving average is $179.65 and its 200-day simple moving average is $166.71. 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 quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. 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%.

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.