Simon Property Group, Inc. $SPG Shares Sold by Jones Financial Companies Lllp

Jones Financial Companies Lllp lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.5% in the first quarter, HoldingsChannel.com reports. The firm owned 41,389 shares of the real estate investment trust’s stock after selling 15,671 shares during the period. Jones Financial Companies Lllp’s holdings in Simon Property Group were worth $6,577,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. raised its stake in Simon Property Group by 185.0% during 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 in the last quarter. Continuum Advisory LLC boosted its position in shares of 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 valued at $32,000 after purchasing an additional 156 shares during the period. AdvisorNet Financial Inc grew its position in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Simon Property Group during the 1st quarter worth $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 522 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the purchase, the director directly owned 58,195 shares of the company’s stock, valued at $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director directly owned 43,185 shares in the company, valued at approximately $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,428 shares of company stock valued at $387,271. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPG. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Argus reissued a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Truist Financial increased their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Mizuho reduced their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $184.92.

Simon Property Group Price Performance

Shares of SPG opened at $179.41 on Wednesday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $58.58 billion, a P/E ratio of 27.73, a PEG ratio of 11.05 and a beta of 1.50. The stock has a fifty day moving average price of $169.78 and a 200 day moving average price of $164.33.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $2.90 earnings per share. Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is currently 132.92%.

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.