WealthTrust Axiom LLC Buys 400 Shares of Simon Property Group, Inc. $SPG

WealthTrust Axiom LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 14.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the real estate investment trust’s stock after acquiring an additional 400 shares during the period. WealthTrust Axiom LLC’s holdings in Simon Property Group were worth $514,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Simon Property Group during the first quarter valued at about $724,937,000. JPMorgan Chase & Co. grew its stake in shares of Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after buying an additional 1,660,188 shares during the period. Goldman Sachs Group Inc. increased its position in Simon Property Group by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after buying an additional 604,016 shares in the last quarter. Resolution Capital Ltd raised its stake in Simon Property Group by 45.8% during the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after buying an additional 565,084 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Simon Property Group in the second quarter worth approximately $68,013,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE SPG opened at $185.74 on Friday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. 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 firm has a market cap of $60.64 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 12.73 and a beta of 1.50. The company has a fifty day moving average price of $180.95 and a 200-day moving average price of $171.89.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm earned $3.05 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is currently 128.09%.

Analysts Set New Price Targets

SPG has been the subject of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Evercore ISI lifted their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. 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 report on Monday, August 25th. Argus reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Stifel Nicolaus boosted their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average price target of $189.93.

Insider Buying and Selling

In other Simon Property Group 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 bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. The trade was a 0.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith acquired 335 shares of the business’s 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 $62,293.25. Following the transaction, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,121 shares of company stock valued at $394,400 over the last quarter. Corporate insiders own 8.66% of the company’s stock.

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.