2,828 Shares in Simon Property Group, Inc. $SPG Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,828 shares of the real estate investment trust’s stock, valued at approximately $455,000.

A number of other hedge funds have also recently made changes to their positions in SPG. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the 2nd quarter valued at approximately $25,000. VSM Wealth Advisory LLC bought a new stake in Simon Property Group during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc increased its position in Simon Property Group by 205.6% in the 2nd 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. Clearstead Trust LLC raised its stake in shares of Simon Property Group by 68.4% during 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 last quarter. Finally, WPG Advisers LLC bought a new position in shares of Simon Property Group during the first quarter valued at $47,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPG. Morgan Stanley increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Piper Sandler upped their price target on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Truist Financial increased their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Finally, Stifel Nicolaus upped their target price on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $189.93.

Simon Property Group Stock Down 1.6%

Shares of Simon Property Group stock opened at $182.10 on Wednesday. The stock’s 50-day moving average is $181.10 and its 200 day moving average is $172.42. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The firm has a market cap of $59.45 billion, a price-to-earnings ratio of 28.15, a PEG 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 issued 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 return on equity of 72.38% and a net margin of 36.78%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a 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%.

Insiders Place Their Bets

In related news, Director Stefan M. Selig acquired 195 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, with a total value of $36,260.25. Following the transaction, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 2,121 shares of company stock valued at $394,400. 8.66% of the stock is currently owned by corporate insiders.

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.