Alta Wealth Advisors LLC Has $235,000 Stock Position in Simon Property Group, Inc. $SPG

Alta Wealth Advisors LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 64.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,461 shares of the real estate investment trust’s stock after selling 2,678 shares during the period. Alta Wealth Advisors LLC’s holdings in Simon Property Group were worth $235,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SPG. Brighton Jones LLC acquired a new stake in Simon Property Group during the fourth quarter valued at $295,000. NBC Securities Inc. boosted its position in Simon Property Group by 234,900.0% during the first quarter. NBC Securities Inc. now owns 2,350 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 2,349 shares during the last quarter. Merit Financial Group LLC boosted its position in Simon Property Group by 84.8% during the first quarter. Merit Financial Group LLC now owns 4,465 shares of the real estate investment trust’s stock valued at $742,000 after purchasing an additional 2,049 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Simon Property Group by 41.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 718 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 210 shares during the last quarter. Finally, Breakwater Capital Group boosted its position in Simon Property Group by 7.7% during the first quarter. Breakwater Capital Group now owns 1,540 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $185.58 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.22 and a beta of 1.50. The business has a 50-day moving average of $176.78 and a two-hundred day moving average of $165.50.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts predict 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 was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. Simon Property Group’s payout ratio is 132.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SPG shares. Evercore ISI reissued an “in-line” rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Argus reaffirmed a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Piper Sandler boosted their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. boosted their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $186.46.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the 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 $40,723.05. Following the acquisition, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stefan M. Selig bought 195 shares of the stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,163 shares of company stock worth $401,605. Insiders own 8.66% of the company’s stock.

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.