Inspire Investing LLC Purchases 1,750 Shares of Simon Property Group, Inc. $SPG

Key Points

• Inspire Investing LLC increased its stake in Simon Property Group by 5.7%, now holding 32,259 shares valued at approximately $5.36 million.
• The company announced a quarterly dividend of $2.15 per share, up from its previous dividend of $2.10, reflecting a yield of 4.7%.
• Simon Property Group surpassed analysts' expectations for quarterly earnings with an EPS of $3.05 and revenue of $1.5 billion, up 13.9% year-over-year.

Inspire Investing LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,259 shares of the real estate investment trust's stock after acquiring an additional 1,750 shares during the period. Simon Property Group accounts for approximately 0.6% of Inspire Investing LLC's portfolio, making the stock its 28th largest holding. Inspire Investing LLC's holdings in Simon Property Group were worth $5,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPG. Modern Wealth Management LLC boosted its stake in Simon Property Group by 5.5% in the 1st quarter. Modern Wealth Management LLC now owns 29,508 shares of the real estate investment trust's stock worth $4,901,000 after purchasing an additional 1,527 shares during the period. Anderson Financial Strategies LLC bought a new position in Simon Property Group in the 1st quarter worth about $147,000. Strs Ohio bought a new position in Simon Property Group in the 1st quarter worth about $37,726,000. Acadian Asset Management LLC boosted its stake in Simon Property Group by 354.5% in the 1st quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust's stock worth $88,115,000 after purchasing an additional 413,871 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Simon Property Group by 68.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,433 shares of the real estate investment trust's stock worth $238,000 after purchasing an additional 583 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $184.01 on Friday. 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 business's 50 day simple moving average is $170.41 and its two-hundred day simple moving average is $164.43. The stock has a market capitalization of $60.08 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 10.85 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year 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 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.7%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 132.92%.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock purchased 396 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the transaction, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,428 shares of company stock valued at $387,271 over the last ninety days. Insiders own 8.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SPG. JPMorgan Chase & Co. raised their target price 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. Argus reaffirmed a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Scotiabank raised their price target on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $184.54.

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.

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