Burney Co. Buys 10,553 Shares of Simon Property Group, Inc. $SPG

Burney Co. increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 41.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,125 shares of the real estate investment trust’s stock after purchasing an additional 10,553 shares during the quarter. Burney Co.’s holdings in Simon Property Group were worth $6,780,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $25,000. VSM Wealth Advisory LLC bought a new stake in Simon Property Group during the second quarter worth $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at $30,000. Bell Investment Advisors Inc increased its stake in shares of 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 purchasing an additional 146 shares during the last quarter. Finally, Clearstead Trust LLC raised its holdings in shares of Simon Property Group by 68.4% during the 2nd quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 108 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.3%

Shares of NYSE:SPG opened at $187.70 on Friday. The firm has a market cap of $61.28 billion, a P/E ratio of 27.32, a P/E/G ratio of 9.18 and a beta of 1.37. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business has a fifty day simple moving average of $182.21 and a 200 day simple moving average of $175.16. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59.

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 for the quarter, beating the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This represents a $8.80 annualized dividend 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 is currently 128.09%.

Insider Buying and Selling at Simon Property Group

In other news, Director Glyn Aeppel purchased 208 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reuben S. Leibowitz acquired 464 shares of the stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $86,280.80. Following the completion of the transaction, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. This represents a 0.80% 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. 8.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on SPG. Evercore ISI boosted their target price on 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. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Scotiabank increased their price objective on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Truist Financial boosted their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $190.46.

Simon Property Group Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.