Adams Wealth Management Takes $560,000 Position in Simon Property Group, Inc. $SPG

Adams Wealth Management bought a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,481 shares of the real estate investment trust’s stock, valued at approximately $560,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group in the 2nd quarter valued at approximately $25,000. Silicon Valley Capital Partners acquired a new stake in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. VSM Wealth Advisory LLC bought a new stake in shares of Simon Property Group during the second quarter valued at approximately $30,000. Bell Investment Advisors Inc increased its position in shares of Simon Property Group by 205.6% during the second 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 period. Finally, Clearstead Trust LLC raised its stake in shares of Simon Property Group by 68.4% in the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 108 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith acquired 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Stefan M. Selig acquired 195 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $36,260.25. Following the transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 2,121 shares of company stock valued at $394,400. 8.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Piper Sandler lifted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Evercore ISI increased their price target 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. Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Morgan Stanley lifted their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and a consensus target price of $189.93.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $181.98 on Monday. The stock has a market capitalization of $59.41 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 8.87 and a beta of 1.37. The firm’s 50-day moving average price is $180.56 and its two-hundred day moving average price is $173.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 38.18% and a return on equity of 79.30%. Simon Property Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts predict 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. Stockholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

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.