MinichMacGregor Wealth Management LLC Makes New Investment in Simon Property Group, Inc. $SPG

Key Points

• MinichMacGregor Wealth Management LLC invested approximately $283,000 in Simon Property Group, acquiring 1,760 shares in the 2nd quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, increasing from the previous $2.10 dividend.
• Analysts have varying ratings for Simon Property Group, with four recommending a buy and nine advising to hold the stock, reflecting mixed opinions on its future performance.

MinichMacGregor Wealth Management LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,760 shares of the real estate investment trust's stock, valued at approximately $283,000.

Several other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 789 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares during the period. Inspire Investing LLC grew its holdings in Simon Property Group by 5.7% during the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock valued at $5,358,000 after purchasing an additional 1,750 shares during the last quarter. Voya Investment Management LLC raised its position in Simon Property Group by 16.3% in the 1st quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock worth $34,996,000 after purchasing an additional 29,479 shares during the period. Finally, Brighton Jones LLC purchased a new stake in Simon Property Group in the 4th quarter worth about $295,000. Institutional investors own 93.01% of the company's stock.

Insiders Place Their Bets

In other news, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $39,185.34. Following the purchase, the director owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,428 shares of company stock worth $387,271. Insiders own 8.66% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $185.29 on Friday. The firm has a 50 day moving average of $174.72 and a 200 day moving average of $164.72. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market capitalization of $60.50 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 11.06 and a beta of 1.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 4.6%. Simon Property Group's payout ratio is currently 132.92%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective on the stock. Argus reiterated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Scotiabank boosted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. raised their price target 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. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $186.46.

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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