Moran Wealth Management LLC Sells 3,853 Shares of Simon Property Group, Inc. $SPG

Moran Wealth Management LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG) by 29.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,321 shares of the real estate investment trust’s stock after selling 3,853 shares during the quarter. Moran Wealth Management LLC’s holdings in Simon Property Group were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SPG. Stance Capital LLC purchased a new position in Simon Property Group in the third quarter valued at about $26,000. Wilkerson Advisory Group LLC bought a new position in Simon Property Group in the fourth quarter worth about $29,000. SHP Wealth Management purchased a new stake in shares of Simon Property Group during the fourth quarter valued at about $34,000. Tompkins Financial Corp purchased a new stake in shares of Simon Property Group during the fourth quarter valued at about $42,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel C. Smith acquired 372 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $223.31 per share, for a total transaction of $83,071.32. Following the completion of the transaction, the director owned 34,480 shares of the company’s stock, valued at approximately $7,699,728.80. The trade was a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary M. Rodkin acquired 256 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.34 per share, for a total transaction of $57,175.04. Following the completion of the acquisition, the director owned 21,016 shares of the company’s stock, valued at approximately $4,693,713.44. This represents a 1.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 2,387 shares of company stock worth $533,056 in the last 90 days. 8.73% of the stock is owned by insiders.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $225.77 on Monday. The company has a 50 day simple moving average of $209.31 and a two-hundred day simple moving average of $197.66. The stock has a market cap of $73.21 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 4.09 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 12 month low of $159.33 and a 12 month high of $228.57.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.Simon Property Group’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $2.25 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s dividend payout ratio is 62.54%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Simon Property Group from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Morgan Stanley increased their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Barclays raised their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Bank of America lifted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Truist Financial upped their price target on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $211.47.

Simon Property Group Profile

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.