Parallel Advisors LLC Sells 147 Shares of Simon Property Group, Inc. $SPG

Parallel Advisors LLC decreased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,346 shares of the real estate investment trust’s stock after selling 147 shares during the period. Parallel Advisors LLC’s holdings in Simon Property Group were worth $859,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC increased its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 509 shares in the last quarter. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter worth approximately $295,000. Clark Capital Management Group Inc. acquired a new position in Simon Property Group during the 1st quarter worth approximately $39,370,000. Finally, AQR Capital Management LLC increased its position in Simon Property Group by 45.4% during the 1st quarter. AQR Capital Management LLC now owns 211,810 shares of the real estate investment trust’s stock worth $34,773,000 after purchasing an additional 66,174 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.6%

SPG opened at $180.40 on Friday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. 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 company has a fifty day moving average of $172.19 and a 200-day moving average of $164.33. The stock has a market cap of $58.90 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 10.99 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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 net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $2.90 earnings per share. Simon Property Group’s revenue for the quarter was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. 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 dividend payout ratio is currently 132.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial upped their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Morgan Stanley upped their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Evercore ISI restated an “in-line” rating and issued a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research report on Monday. Finally, Mizuho decreased their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $186.46.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock acquired 396 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This represents a 0.93% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel acquired 234 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director owned 19,057 shares of the company’s stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,428 shares of company stock valued at $387,271 over the last 90 days. 8.66% of the stock is owned by company insiders.

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.