Prospera Financial Services Inc Buys 2,860 Shares of Simon Property Group, Inc. $SPG

Prospera Financial Services Inc raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 16.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 20,652 shares of the real estate investment trust’s stock after buying an additional 2,860 shares during the quarter. Prospera Financial Services Inc’s holdings in Simon Property Group were worth $3,323,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SPG. Summit Investment Advisors Inc. grew its stake in shares of Simon Property Group by 6.3% during the first quarter. Summit Investment Advisors Inc. now owns 3,388 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 200 shares during the last quarter. AE Wealth Management LLC raised its position in Simon Property Group by 84.5% in the 2nd quarter. AE Wealth Management LLC now owns 2,576 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 1,180 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in Simon Property Group by 67.3% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 2,735 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 1,100 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Simon Property Group in the 2nd quarter valued at $1,037,000. Finally, Metis Global Partners LLC increased its stake in shares of Simon Property Group by 19.1% in the 2nd quarter. Metis Global Partners LLC now owns 65,321 shares of the real estate investment trust’s stock valued at $10,501,000 after buying an additional 10,472 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig purchased 195 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the acquisition, the director directly owned 32,076 shares of the company’s stock, valued at $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glyn Aeppel purchased 208 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,163 shares of company stock worth $401,605 in the last three months. 8.66% of the stock is owned by insiders.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $183.62 on Monday. The firm’s 50 day simple moving average is $180.44 and its 200 day simple moving average is $169.74. 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 market capitalization of $59.95 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 12.73 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company earned $3.05 earnings per share. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share 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. Investors of record on Wednesday, December 10th will be given a $2.20 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is currently 128.09%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Evercore ISI raised their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Barclays boosted their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.69.

Simon Property Group Company 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.