Geneos Wealth Management Inc. Raises Stock Holdings in Simon Property Group, Inc. $SPG

Geneos Wealth Management Inc. lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 68.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,433 shares of the real estate investment trust’s stock after acquiring an additional 583 shares during the period. Geneos Wealth Management Inc.’s holdings in Simon Property Group were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 acquiring an additional 267,503 shares during the period. Northern Trust Corp lifted its position in shares of 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 worth $923,236,000 after buying an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Simon Property Group by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after acquiring an additional 141,657 shares during the last quarter. Nuveen LLC bought a new stake in Simon Property Group during the first quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Simon Property Group by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after acquiring an additional 23,873 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 396 shares of the business’s stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares of the company’s stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz purchased 522 shares of the business’s stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the purchase, the director directly owned 58,195 shares of the company’s stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,428 shares of company stock valued at $387,271. 8.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SPG shares. Evercore ISI reaffirmed an “in-line” rating and set a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research note on Monday. Scotiabank raised their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Argus reaffirmed a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Finally, Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price target on the stock. Four 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, the company has a consensus rating of “Hold” and a consensus price target of $185.69.

Simon Property Group Stock Up 0.8%

Shares of SPG opened at $183.97 on Tuesday. The firm has a market cap of $60.07 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 11.05 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company’s 50-day moving average price is $171.11 and its 200 day moving average price is $164.14. 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 issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group’s payout ratio is currently 132.92%.

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.