Alpha Cubed Investments LLC Increases Stock Holdings in Simon Property Group, Inc. $SPG

Alpha Cubed Investments LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 76.5% in the third quarter, Holdings Channel reports. The institutional investor owned 6,152 shares of the real estate investment trust’s stock after acquiring an additional 2,667 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Simon Property Group were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SPG. Brighton Jones LLC purchased a new position in Simon Property Group during the fourth quarter worth about $295,000. Janney Montgomery Scott LLC increased its holdings in Simon Property Group by 87.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 131,791 shares of the real estate investment trust’s stock valued at $21,187,000 after purchasing an additional 61,505 shares during the last quarter. Truist Financial Corp raised its position in Simon Property Group by 3.0% in the second quarter. Truist Financial Corp now owns 39,433 shares of the real estate investment trust’s stock valued at $6,339,000 after purchasing an additional 1,157 shares during the period. Trust Co. of Vermont lifted its stake in Simon Property Group by 15.8% during the second quarter. Trust Co. of Vermont now owns 4,728 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 644 shares in the last quarter. Finally, BSW Wealth Partners boosted its position in shares of Simon Property Group by 10.3% during the second quarter. BSW Wealth Partners now owns 1,575 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Barclays restated a “positive” rating and set a $188.00 target price on shares of Simon Property Group in a report on Tuesday, January 13th. Scotiabank raised their price objective on shares of Simon Property Group from $186.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Truist Financial upped their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Citigroup upped their price objective on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $194.64.

Insider Activity at Simon Property Group

In other news, Director Daniel C. Smith acquired 347 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $64,542.00. Following the completion of the purchase, the director owned 32,680 shares of the company’s stock, valued at approximately $6,078,480. This represents a 1.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry C. Glasscock bought 363 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the transaction, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. This trade represents a 0.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,192 shares of company stock valued at $407,712 in the last ninety days. 8.66% of the stock is owned by insiders.

Simon Property Group Stock Up 3.2%

Simon Property Group stock opened at $189.65 on Friday. The stock has a market capitalization of $61.92 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 6.82 and a beta of 1.37. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock has a 50 day moving average of $184.63 and a two-hundred day moving average of $179.20. 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 (NYSE:SPG) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 4.6%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend was Wednesday, December 10th. Simon Property Group’s payout ratio is currently 128.09%.

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.