Simon Property Group, Inc. $SPG Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,929 shares of the real estate investment trust’s stock after acquiring an additional 757 shares during the period. Advisors Asset Management Inc.’s holdings in Simon Property Group were worth $3,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SPG. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. VSM Wealth Advisory LLC purchased a new position in Simon Property Group in the second quarter valued at $30,000. Bell Investment Advisors Inc raised its position 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 worth $35,000 after acquiring an additional 146 shares during the period. Clearstead Trust LLC raised its position 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 worth $43,000 after acquiring an additional 108 shares during the period. Finally, WPG Advisers LLC purchased a new stake in shares of Simon Property Group during the 1st quarter worth about $47,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Simon Property Group stock opened at $185.74 on Friday. The company has a fifty day simple moving average of $180.95 and a 200-day simple moving average of $171.89. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 28.71, a PEG 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. 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 posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $3.05 earnings per share. Simon Property Group’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

Insiders Place Their Bets

In related news, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 2,121 shares of company stock valued at $394,400. Insiders own 8.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Citigroup boosted their price objective on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI increased their target price on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Morgan Stanley boosted their price target on shares of 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, Piper Sandler upped 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. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $189.93.

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.