B. Riley Wealth Advisors Inc. Buys New Shares in Simon Property Group, Inc. $SPG

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,886 shares of the real estate investment trust’s stock, valued at approximately $786,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Trust Co. of Toledo NA OH purchased a new position in Simon Property Group in the 2nd quarter valued at about $25,000. VSM Wealth Advisory LLC purchased a new position in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc boosted its holdings in Simon Property Group by 205.6% during 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 increased its position 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 worth $43,000 after acquiring an additional 108 shares during the period. Finally, WPG Advisers LLC acquired a new stake in Simon Property Group in the first quarter valued at approximately $47,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

SPG opened at $182.59 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock’s 50 day moving average price is $180.74 and its two-hundred day moving average price is $173.95. 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 $59.61 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 8.98 and a beta of 1.37.

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 for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The company’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 forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a $2.20 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is presently 128.09%.

Analysts Set New Price Targets

Several research firms have commented on SPG. Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Barclays upped their price objective on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th. Argus restated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Evercore ISI upped their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $189.54.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock acquired 351 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, the director directly owned 19,229 shares in the company, valued at $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 2,121 shares of company stock valued at $394,400 over the last three months. Insiders own 8.60% of the company’s stock.

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.