Global Retirement Partners LLC Invests $325,000 in Simon Property Group, Inc. $SPG

Global Retirement Partners LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,024 shares of the real estate investment trust’s stock, valued at approximately $325,000.

Other institutional investors also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its position in Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after acquiring an additional 66 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 68 shares during the period. Wedmont Private Capital lifted its stake in shares of Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 68 shares during the period. PFS Partners LLC boosted its position in shares of Simon Property Group by 13.6% during the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 68 shares in the last quarter. Finally, Wealth Alliance LLC grew its stake in Simon Property Group by 1.9% in the second quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock worth $618,000 after purchasing an additional 70 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $186.52 on Monday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The firm has a market cap of $60.89 billion, a P/E ratio of 28.83, a PEG ratio of 12.73 and a beta of 1.50. The company has a 50 day moving average of $181.06 and a 200 day moving average of $172.14. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company earned $3.05 EPS. The company’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, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS 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. Shareholders of record on Wednesday, December 10th will be given a $2.20 dividend. This is a positive change 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 yield of 4.7%. Simon Property Group’s payout ratio is presently 128.09%.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock purchased 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. The trade was a 0.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary M. Rodkin purchased 219 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 2,121 shares of company stock worth $394,400. 8.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SPG shares. Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Truist Financial raised their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Argus reissued a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Evercore ISI raised their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus 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.