Heartland Bank & Trust Co Invests $248,000 in Simon Property Group, Inc. $SPG

Key Points

• Heartland Bank & Trust Co invested $248,000 in Simon Property Group, purchasing 1,544 shares during the second quarter.
• Simon Property Group reported earnings per share of $3.05 for the last quarter, beating estimates and reflecting a year-over-year revenue increase of 13.9%.
• The company recently increased its quarterly dividend to $2.15 per share, with an annualized yield of 4.9%, reflecting a payout ratio of 132.92%.

Heartland Bank & Trust Co purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,544 shares of the real estate investment trust's stock, valued at approximately $248,000.

A number of other hedge funds also recently modified their holdings of SPG. Trust Co. of Toledo NA OH acquired a new position in shares of Simon Property Group during the second quarter worth $25,000. Park Square Financial Group LLC lifted its holdings in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% during the first 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 during the period. Finally, WPG Advisers LLC acquired a new position in shares of Simon Property Group during the first quarter worth $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Down 0.4%

SPG opened at $175.77 on Wednesday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market cap of $57.39 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 10.69 and a beta of 1.50. The company has a fifty day moving average price of $178.51 and a two-hundred day moving average price of $166.10.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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 firm had revenue of $1.50 billion during 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 business'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. Analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared 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 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 of this dividend was Tuesday, September 9th. Simon Property Group's payout ratio is presently 132.92%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPG. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price target on the stock. Morgan Stanley boosted 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. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Evercore ISI restated an "in-line" rating and issued a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Finally, Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $187.23.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of the firm's stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel bought 208 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares of the company's stock, valued at $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,163 shares of company stock valued at $401,605. 8.60% of the stock is owned by insiders.

Simon Property Group 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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