Callan Family Office LLC Buys 4,299 Shares of Simon Property Group, Inc. $SPG

Key Points

• Callan Family Office LLC increased its stake in Simon Property Group, Inc. by 218.0% during the second quarter, acquiring an additional 4,299 shares to hold a total of 6,271 shares valued at approximately $1,008,000.
• Recent analyst ratings for Simon Property Group show a consensus rating of "Hold" with a price target of $187.23 and multiple analysts have maintained buy ratings with targets ranging from $180.00 to $225.00.
• Simon Property Group announced an increase in its quarterly dividend to $2.15 per share, reflecting a yield of 4.9%, up from the previous dividend of $2.10.

Callan Family Office LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 218.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,271 shares of the real estate investment trust's stock after acquiring an additional 4,299 shares during the period. Callan Family Office LLC's holdings in Simon Property Group were worth $1,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the period. Richardson Financial Services Inc. lifted 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 valued at $28,000 after acquiring an additional 111 shares during the period. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares during the period. WPG Advisers LLC bought a new position in Simon Property Group during the 1st quarter valued at about $47,000. Finally, Grove Bank & Trust lifted its stake in Simon Property Group by 231.3% during the 1st quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 266 shares during the period. Institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Argus reiterated a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Evercore ISI reiterated an "in-line" rating and issued a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. JPMorgan Chase & Co. increased their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Finally, Barclays upped their price target on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and an average price target of $187.23.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 464 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $86,280.80. Following the purchase, the director directly owned 58,659 shares of the company's stock, valued at approximately $10,907,641.05. This represents a 0.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Glyn Aeppel acquired 208 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director directly 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 disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,163 shares of company stock worth $401,605. Insiders own 8.66% of the company's stock.

Simon Property Group Price Performance

NYSE SPG opened at $175.39 on Monday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The stock has a market cap of $57.26 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 10.62 and a beta of 1.50. The company's 50 day moving average is $178.12 and its two-hundred day moving average is $165.94. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $2.90 EPS. The company'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. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.9%. 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 (DPR) is 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.

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.