Cresset Asset Management LLC Decreases Position in Simon Property Group, Inc. $SPG

Cresset Asset Management LLC decreased its stake in Simon Property Group, Inc. (NYSE:SPG) by 25.3% in the second quarter, Holdings Channel.com reports. The firm owned 9,861 shares of the real estate investment trust’s stock after selling 3,344 shares during the period. Cresset Asset Management LLC’s holdings in Simon Property Group were worth $1,585,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SPG. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group in the second quarter worth $25,000. VSM Wealth Advisory LLC purchased a new stake in shares of Simon Property Group in the second quarter valued at $30,000. Bell Investment Advisors Inc lifted its holdings 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 worth $35,000 after acquiring an additional 146 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of Simon Property Group by 68.4% in the 2nd 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 last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth about $47,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.6%

NYSE:SPG opened at $181.16 on Wednesday. The company’s 50-day simple moving average is $180.78 and its 200-day simple moving average is $173.19. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The stock has a market capitalization of $59.14 billion, a P/E ratio of 26.37, a P/E/G ratio of 8.77 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last announced its 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. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm earned $3.05 earnings per share. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 positive change from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is presently 125.18%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 464 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the acquisition, the director directly owned 58,659 shares in the company, valued at $10,907,641.05. The trade was a 0.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith acquired 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the transaction, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,121 shares of company stock worth $394,400 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPG shares. Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Citigroup increased their price target on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Scotiabank raised their price target on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Truist Financial boosted their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. Finally, Barclays increased their target price on Simon Property Group from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 18th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $189.93.

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.