Meadowbrook Wealth Management LLC Buys New Shares in Simon Property Group, Inc. $SPG

Meadowbrook Wealth Management LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,570 shares of the real estate investment trust’s stock, valued at approximately $1,045,000. Simon Property Group makes up about 1.1% of Meadowbrook Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in shares of Simon Property Group by 68.8% in the 2nd quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Highland Capital Management LLC acquired a new stake in Simon Property Group in the second quarter valued at $1,196,000. Arrowstreet Capital Limited Partnership lifted its holdings in Simon Property Group by 740.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock worth $28,546,000 after buying an additional 156,448 shares during the last quarter. Capital Advisors Inc. OK boosted its position in shares of Simon Property Group by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Simon Property Group by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock worth $4,731,000 after acquiring an additional 1,607 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.3%

SPG opened at $184.60 on Friday. The business has a 50 day moving average price of $181.16 and a two-hundred day moving average price of $174.25. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The company has a market cap of $60.27 billion, a PE ratio of 26.87, a P/E/G ratio of 9.02 and a beta of 1.37. 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 earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $3.05 earnings per share. The company’s revenue for the quarter 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 anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, December 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is currently 128.09%.

Insider Buying and Selling

In other news, Director Stefan M. Selig bought 195 shares of the 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 $36,260.25. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Smith acquired 335 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 $62,293.25. Following the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 2,121 shares of company stock worth $394,400. 8.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Truist Financial upped their price objective on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday. Evercore ISI lifted their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Citigroup upped their target price on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Scotiabank lifted their price target on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $190.46.

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.