Rossby Financial LCC Has $44,000 Stake in Simon Property Group, Inc. $SPG

Rossby Financial LCC trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 51.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272 shares of the real estate investment trust’s stock after selling 287 shares during the period. Rossby Financial LCC’s holdings in Simon Property Group were worth $44,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Simon Property Group during the second quarter worth approximately $1,333,000. Envestnet Asset Management Inc. lifted its position in shares of Simon Property Group by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 348,259 shares of the real estate investment trust’s stock worth $55,986,000 after purchasing an additional 29,456 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Simon Property Group by 10.8% during the second quarter. Wealthfront Advisers LLC now owns 65,912 shares of the real estate investment trust’s stock worth $10,596,000 after purchasing an additional 6,437 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Simon Property Group by 23.7% during the second quarter. Brighton Jones LLC now owns 2,246 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 431 shares in the last quarter. Finally, MQS Management LLC lifted its position in shares of Simon Property Group by 10.9% during the second quarter. MQS Management LLC now owns 6,466 shares of the real estate investment trust’s stock worth $1,039,000 after purchasing an additional 637 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the subject of a number of recent research reports. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Morgan Stanley 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 Thursday, September 11th. Piper Sandler boosted their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Truist Financial boosted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Finally, Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Down 1.8%

Simon Property Group stock opened at $173.55 on Thursday. The stock has a market capitalization of $56.66 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 12.96 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. 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 company has a 50 day moving average of $180.20 and a 200-day moving average of $168.17.

Simon Property Group (NYSE:SPG) last announced 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 net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $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, equities research analysts anticipate 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued 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 5.0%. Simon Property Group’s dividend payout ratio is currently 132.92%.

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 price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the acquisition, the director owned 58,659 shares of the company’s stock, valued at $10,907,641.05. This trade represents a 0.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary M. Rodkin bought 219 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 $40,723.05. Following the acquisition, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,163 shares of company stock valued at $401,605 in the last three months. 8.66% of the stock is currently owned by insiders.

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.