Simon Property Group, Inc. $SPG Shares Sold by Grassi Investment Management

Grassi Investment Management decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,798 shares of the real estate investment trust’s stock after selling 1,245 shares during the quarter. Grassi Investment Management’s holdings in Simon Property Group were worth $3,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SPG. Park Square Financial Group LLC grew its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC increased its stake in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. WPG Advisers LLC purchased a new position in Simon Property Group in the 1st quarter worth about $47,000. Finally, Grove Bank & Trust increased its stake in Simon Property Group by 231.3% in the 1st quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG opened at $185.58 on Friday. The company’s 50 day moving average price is $176.78 and its 200 day moving average price is $165.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a market capitalization of $60.59 billion, a PE ratio of 28.68, a PEG ratio of 11.20 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm 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. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is presently 132.92%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of analyst reports. Truist Financial lifted their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Piper Sandler lifted their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. LADENBURG THALM/SH SH initiated 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 objective on the stock. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research report on Tuesday, September 2nd. Finally, Argus reiterated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and an average target price of $186.46.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin purchased 219 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the purchase, the director owned 19,229 shares in the company, valued at $3,575,632.55. This represents a 1.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith purchased 335 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $62,293.25. Following the purchase, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

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.