New Insight Wealth Advisors Cuts Position in Simon Property Group, Inc. $SPG

New Insight Wealth Advisors reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,255 shares of the real estate investment trust’s stock after selling 6,303 shares during the quarter. Simon Property Group comprises approximately 1.6% of New Insight Wealth Advisors’ holdings, making the stock its 17th largest position. New Insight Wealth Advisors’ holdings in Simon Property Group were worth $4,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC lifted its holdings in shares of Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 66 shares during the period. PFS Partners LLC increased its stake in shares of Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Wealth Alliance LLC boosted its stake in shares of Simon Property Group by 1.9% in the second quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock worth $618,000 after acquiring an additional 70 shares during the period. SageView Advisory Group LLC raised its position in shares of Simon Property Group by 3.5% during the second quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 71 shares during the last quarter. Finally, William Allan Corp grew its stake in Simon Property Group by 2.8% during the third quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock valued at $515,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG opened at $184.94 on Friday. The firm has a market capitalization of $60.38 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 8.81 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $184.11 and its 200-day moving average price is $177.98. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.13. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SPG shares. Mizuho set a $192.00 target price on Simon Property Group in a research report on Friday, January 9th. Citigroup upped their price objective 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research report on Friday. Finally, Truist Financial increased their target price on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, December 17th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.85.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin acquired 226 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $42,036.00. Following the purchase, the director directly owned 19,455 shares of the company’s stock, valued at $3,618,630. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Smith bought 347 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, with a total value of $64,542.00. Following the completion of the purchase, the director owned 32,680 shares in the company, valued at approximately $6,078,480. This trade represents a 1.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 2,192 shares of company stock worth $407,712. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Company 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.