Jeppson Wealth Management LLC Has $1.73 Million Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Jeppson Wealth Management LLC has increased its stake in Simon Property Group by 15.9%, owning 10,784 shares valued at approximately $1.73 million as of the end of the second quarter.
• The company recently announced a quarterly dividend increase to $2.15 per share, offering a dividend yield of 4.7% and maintaining a high payout ratio of 132.92%.
• Simon Property Group has received mostly hold and buy ratings from analysts, with an average target price of $186.46, reflecting a generally optimistic outlook despite some mixed projections.

Jeppson Wealth Management LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,784 shares of the real estate investment trust's stock after purchasing an additional 1,483 shares during the period. Jeppson Wealth Management LLC's holdings in Simon Property Group were worth $1,734,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SPG. Brighton Jones LLC acquired a new stake in Simon Property Group during the fourth quarter worth approximately $295,000. Ascent Group LLC grew its stake in Simon Property Group by 17.3% during the fourth quarter. Ascent Group LLC now owns 2,677 shares of the real estate investment trust's stock worth $461,000 after purchasing an additional 395 shares during the period. Phocas Financial Corp. acquired a new stake in Simon Property Group during the fourth quarter worth approximately $466,000. Wealth Enhancement Advisory Services LLC grew its stake in Simon Property Group by 36.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust's stock worth $4,074,000 after purchasing an additional 6,293 shares during the period. Finally, 111 Capital acquired a new stake in Simon Property Group during the fourth quarter worth approximately $284,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPG shares. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Argus reissued a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $186.46.

Insiders Place Their Bets

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel C. Smith bought 378 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $60,211.62. Following the completion of the transaction, the director owned 31,998 shares in the company, valued at approximately $5,096,961.42. The trade was a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,428 shares of company stock valued at $387,271. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Down 0.4%

Shares of NYSE:SPG opened at $183.40 on Thursday. The stock has a market cap of $59.88 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 11.15 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business's 50 day moving average is $173.87 and its 200 day moving average is $164.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its 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 company 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%.Simon Property Group's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. Simon Property Group's payout ratio is presently 132.92%.

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.

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.