CacheTech Inc. Takes $560,000 Position in Simon Property Group, Inc. $SPG

CacheTech Inc. bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,481 shares of the real estate investment trust’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the 2nd quarter valued at about $25,000. Silicon Valley Capital Partners acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $30,000. VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group during the second quarter worth approximately $30,000. Bell Investment Advisors Inc increased its stake 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 worth $35,000 after purchasing an additional 146 shares during the period. Finally, Clearstead Trust LLC lifted its holdings in 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 purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Argus reissued a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Evercore ISI raised 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. Finally, Stifel Nicolaus lifted 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 note on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $189.93.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the purchase, the director directly owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stefan M. Selig bought 195 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the transaction, the director owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,121 shares of company stock worth $394,400 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $181.98 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The company has a market cap of $59.41 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 8.87 and a beta of 1.37. The company has a 50 day moving average of $180.56 and a 200-day moving average of $173.66. 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 announced its quarterly earnings data 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. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm posted $3.05 earnings per share. The firm’s quarterly 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. As a group, equities research analysts forecast 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 declared 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. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s payout ratio is presently 128.09%.

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.