Simon Quick Advisors LLC Has $510,000 Holdings in Simon Property Group, Inc. $SPG

Simon Quick Advisors LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 22.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,174 shares of the real estate investment trust’s stock after buying an additional 582 shares during the quarter. Simon Quick Advisors LLC’s holdings in Simon Property Group were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPG. Brighton Jones LLC acquired a new stake in Simon Property Group in the 4th quarter valued at approximately $295,000. DAVENPORT & Co LLC raised its position in Simon Property Group by 296.7% in the 1st quarter. DAVENPORT & Co LLC now owns 9,639 shares of the real estate investment trust’s stock valued at $1,601,000 after buying an additional 7,209 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Simon Property Group in the first quarter worth $88,000. Private Trust Co. NA lifted its position in shares of Simon Property Group by 13.6% in the first quarter. Private Trust Co. NA now owns 3,382 shares of the real estate investment trust’s stock worth $562,000 after purchasing an additional 404 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in shares of Simon Property Group by 4.3% in the first quarter. GF Fund Management CO. LTD. now owns 6,180 shares of the real estate investment trust’s stock worth $1,026,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPG shares. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Morgan Stanley boosted their target price 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. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Finally, Argus restated a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $187.31.

Simon Property Group Trading Up 1.5%

SPG stock opened at $175.95 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a fifty day moving average price of $180.19 and a two-hundred day moving average price of $168.52. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock has a market cap of $57.45 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Insider Buying and Selling

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of Simon Property Group 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 $40,723.05. Following the completion of the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group 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 $38,677.60. Following the transaction, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,163 shares of company stock valued at $401,605 in the last 90 days. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Company 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.