Finivi Inc. Invests $1.75 Million in Simon Property Group, Inc. $SPG

Finivi Inc. purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, Holdings Channel reports. The firm purchased 7,813 shares of the real estate investment trust’s stock, valued at approximately $1,747,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in Simon Property Group in the fourth quarter valued at about $295,000. Marshall Wace LLP raised its position in shares of Simon Property Group by 316.2% during the second quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust’s stock worth $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC lifted its holdings in shares of Simon Property Group by 80.1% during the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust’s stock valued at $2,714,000 after purchasing an additional 7,506 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Simon Property Group by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Simon Property Group by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 3,372 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SPG shares. JPMorgan Chase & Co. increased their target price on Simon Property Group from $210.00 to $217.00 and gave the stock a “neutral” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 14th. Stifel Nicolaus upped their price target on shares of Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Jefferies Financial Group raised shares of Simon Property Group to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Morgan Stanley raised their price objective on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $216.14.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock purchased 397 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $223.38 per share, with a total value of $88,681.86. Following the transaction, the director directly owned 45,902 shares of the company’s stock, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Smith purchased 372 shares of the stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the transaction, the director directly owned 34,480 shares in the company, valued at approximately $7,699,728.80. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 2,387 shares of company stock valued at $533,056. 8.73% of the stock is owned by insiders.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $222.56 on Monday. The stock has a market capitalization of $72.17 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.88 and a beta of 1.30. The business has a 50-day moving average of $220.80 and a 200-day moving average of $204.84. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. Simon Property Group, Inc. has a fifty-two week low of $163.29 and a fifty-two week high of $238.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. Simon Property Group’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current fiscal year.

About Simon Property Group

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.