Bogart Wealth LLC Has $7.63 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Bogart Wealth LLC has increased its holdings in Simon Property Group by 14.9%, owning 47,446 shares valued at approximately $7.63 million as of its latest SEC filing.
• The company reported a quarterly earnings per share (EPS) of $3.05, exceeding analyst expectations, with revenue up 13.9% year-over-year.
• Simon Property Group announced a quarterly dividend increase from $2.10 to $2.15, with an annualized dividend yield of 4.8%.

Bogart Wealth LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,446 shares of the real estate investment trust's stock after buying an additional 6,146 shares during the quarter. Bogart Wealth LLC's holdings in Simon Property Group were worth $7,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPG. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the second quarter worth $25,000. Park Square Financial Group LLC lifted its stake in shares of 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 worth $26,000 after buying an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter worth $47,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.8%

Shares of Simon Property Group stock opened at $178.23 on Monday. The firm has a market capitalization of $58.19 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 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. The company's fifty day moving average price is $179.20 and its two-hundred day moving average price is $166.40. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group's payout ratio is presently 132.92%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director directly owned 43,536 shares of the company's stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stefan M. Selig purchased 195 shares of the stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the acquisition, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,163 shares of company stock worth $401,605. 8.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPG has been the subject of a number of analyst reports. Barclays boosted their price objective 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. Evercore ISI boosted their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an "in-line" rating in a research note on Friday. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Finally, Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $187.31.

About Simon Property Group

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.