Simon Property Group, Inc. $SPG Shares Purchased by Alteri Wealth LLC

Alteri Wealth LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,369 shares of the real estate investment trust’s stock after acquiring an additional 712 shares during the period. Alteri Wealth LLC’s holdings in Simon Property Group were worth $542,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group in the 2nd quarter valued at about $25,000. Richardson Financial Services Inc. increased 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 worth $28,000 after buying an additional 111 shares during the period. VSM Wealth Advisory LLC purchased a new stake in Simon Property Group in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc boosted its holdings in shares of Simon Property Group by 205.6% in the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Clearstead Trust LLC boosted its holdings in shares of Simon Property Group by 68.4% in the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Glyn Aeppel purchased 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 2,121 shares of company stock valued at $394,400 in the last quarter. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Truist Financial lifted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Argus reaffirmed a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Evercore ISI increased their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Five research 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, Simon Property Group has an average rating of “Hold” and a consensus target price of $190.31.

Simon Property Group Stock Up 0.5%

Simon Property Group stock opened at $181.85 on Wednesday. The stock’s 50 day moving average price is $180.76 and its 200 day moving average price is $170.97. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a market cap of $59.37 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

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

Simon Property Group Increases Dividend

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