AE Wealth Management LLC Acquires 1,180 Shares of Simon Property Group, Inc. $SPG

AE Wealth Management LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 84.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,576 shares of the real estate investment trust’s stock after buying an additional 1,180 shares during the quarter. AE Wealth Management LLC’s holdings in Simon Property Group were worth $414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new position in shares of Simon Property Group during the 2nd quarter valued at $25,000. Richardson Financial Services Inc. boosted its position in Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Simon Property Group during the first quarter valued at about $47,000. TCTC Holdings LLC increased its holdings in Simon Property Group by 93.5% in the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 186 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Simon Property Group during the 1st quarter valued at approximately $81,000. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Truist Financial raised their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Scotiabank lifted their price target on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday. Morgan Stanley raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Finally, Argus reiterated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $189.85.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director owned 19,229 shares in the company, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reuben S. Leibowitz purchased 464 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the transaction, the director directly owned 58,659 shares in the company, valued at approximately $10,907,641.05. The trade was a 0.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 2,121 shares of company stock worth $394,400. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

SPG opened at $182.66 on Friday. 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 stock’s 50 day moving average price is $180.74 and its two-hundred day moving average price is $170.58. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The firm has a market capitalization of $59.63 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

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

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

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.