Archer Investment Corp Grows Stock Position in Simon Property Group, Inc. $SPG

Archer Investment Corp raised its position in Simon Property Group, Inc. (NYSE:SPG) by 7,619.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,621 shares of the real estate investment trust’s stock after buying an additional 1,600 shares during the quarter. Archer Investment Corp’s holdings in Simon Property Group were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SPG. Highland Capital Management LLC bought a new stake in Simon Property Group during the second quarter valued at approximately $1,196,000. Capital Advisors Inc. OK increased its holdings in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after buying an additional 2,064 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Simon Property Group by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock valued at $4,731,000 after buying an additional 1,607 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Simon Property Group by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC bought a new stake in shares of Simon Property Group during the 2nd quarter worth $283,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays increased their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Argus reissued a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Truist Financial boosted their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.31.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin acquired 219 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction 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. The trade was a 1.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,121 shares of company stock worth $394,400 over the last three months. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Trading Up 1.8%

NYSE:SPG opened at $183.29 on Friday. The firm has a market capitalization of $59.84 billion, a P/E ratio of 28.33, a P/E/G ratio of 12.73 and a beta of 1.50. 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 $180.71 and a 200 day moving average of $171.25. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous 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, research analysts predict 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 Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is presently 128.09%.

Simon Property Group 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.