Laffer Tengler Investments Inc. Makes New $239,000 Investment in Simon Property Group, Inc. $SPG

Laffer Tengler Investments Inc. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,487 shares of the real estate investment trust’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Vanguard Group Inc. lifted its holdings in Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp raised its position in shares of Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Simon Property Group by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after buying an additional 141,657 shares during the period. Nuveen LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Simon Property Group by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after acquiring an additional 23,873 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Truist Financial upped their price objective 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. JPMorgan Chase & Co. increased 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. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average price target of $188.85.

Simon Property Group Trading Up 1.6%

NYSE SPG opened at $183.62 on Monday. The stock has a market cap of $59.95 billion, a P/E ratio of 28.38, a PEG ratio of 12.73 and a beta of 1.50. The company’s fifty day simple moving average is $180.44 and its 200-day simple moving average is $169.74. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly 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. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. 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 will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is presently 128.09%.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were acquired 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 owned 19,229 shares in the company, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 2,163 shares of company stock valued at $401,605. Insiders own 8.66% of the company’s stock.

About Simon Property Group

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.