Glass Jacobson Investment Advisors llc Decreases Stake in Simon Property Group, Inc. $SPG

Key Points

• Glass Jacobson Investment Advisors LLC significantly reduced its stake in Simon Property Group, decreasing holdings by 86.6% to only 355 shares after selling 2,287 shares during the second quarter.
• Simon Property Group announced an increase in its quarterly dividend from $2.10 to $2.15, providing shareholders an annualized yield of 4.8%.
• Research analysts have mixed ratings on Simon Property Group with five analysts giving a buy rating and nine a hold rating, reflecting a consensus price target of $187.31.

Glass Jacobson Investment Advisors llc decreased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 86.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355 shares of the real estate investment trust's stock after selling 2,287 shares during the quarter. Glass Jacobson Investment Advisors llc's holdings in Simon Property Group were worth $57,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC increased its holdings in shares of Simon Property Group by 0.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust's stock valued at $2,213,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC grew its position in Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after buying an additional 68 shares during the period. Wedmont Private Capital increased its holdings in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 68 shares in the last quarter. PFS Partners LLC lifted its position in shares of Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock valued at $91,000 after acquiring an additional 68 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after acquiring an additional 70 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith bought 335 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares of the company's stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reuben S. Leibowitz bought 464 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, for a total transaction of $86,280.80. Following the completion of the transaction, the director directly 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 disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,163 shares of company stock worth $401,605. Company insiders own 8.66% of the company's stock.

Simon Property Group Trading Down 0.2%

Simon Property Group stock opened at $178.27 on Friday. The stock has a 50-day moving average price of $180.03 and a 200 day moving average price of $167.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The stock has a market cap of $58.20 billion, a PE ratio of 27.55, a P/E/G ratio of 13.06 and a beta of 1.50. 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 released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 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%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPG. Piper Sandler raised their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. LADENBURG THALM/SH SH assumed 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Morgan Stanley raised 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 report on Thursday, September 11th. Finally, Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price for the company. in a research report on Tuesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $187.31.

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.

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