AMG National Trust Bank Sells 710 Shares of Simon Property Group, Inc. $SPG

AMG National Trust Bank cut its position in Simon Property Group, Inc. (NYSE:SPG) by 30.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,610 shares of the real estate investment trust’s stock after selling 710 shares during the quarter. AMG National Trust Bank’s holdings in Simon Property Group were worth $259,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group in the second quarter valued at $25,000. Park Square Financial Group LLC raised its stake in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the period. WPG Advisers LLC bought a new stake in shares of Simon Property Group in the first quarter valued at $47,000. Finally, TCTC Holdings LLC raised its stake in shares of Simon Property Group by 93.5% in the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 186 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 464 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the transaction, the director directly owned 58,659 shares in the company, valued at $10,907,641.05. This represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel C. Smith bought 335 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,163 shares of company stock valued at $401,605 over the last 90 days. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $175.95 on Friday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The business has a 50-day simple moving average of $180.19 and a 200 day simple moving average of $168.52. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $57.45 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business earned $2.90 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI lifted their price target 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. Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Truist Financial lifted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Finally, Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $187.31.

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.