Modern Wealth Management LLC Has $4.90 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Modern Wealth Management LLC increased its holdings in Simon Property Group, now owning 29,508 shares worth $4.90 million after a 5.5% increase during the first quarter.
• Simon Property Group recently announced a quarterly dividend of $2.15 per share, representing a 4.7% annual yield, which is a rise from the previous dividend of $2.10.
• The company's stock has a consensus analyst rating of "Hold" with an average price target of $184.54 from various analysts, indicating a mix of buy and hold recommendations.

Modern Wealth Management LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,508 shares of the real estate investment trust's stock after purchasing an additional 1,527 shares during the quarter. Modern Wealth Management LLC's holdings in Simon Property Group were worth $4,901,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 789 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after buying an additional 509 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $295,000. Clark Capital Management Group Inc. bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $39,370,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $895,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus reiterated a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. Scotiabank upped their price target on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research report on Thursday, August 28th. 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 on the stock. Finally, Truist Financial upped their price target on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $184.54.

Simon Property Group Stock Up 2.7%

Shares of Simon Property Group stock opened at $184.01 on Friday. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 stock's 50-day moving average is $170.41 and its 200 day moving average is $164.43. The firm has a market cap of $60.08 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 10.85 and a beta of 1.50.

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 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The firm's revenue for the quarter 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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm 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. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Insider Activity at Simon Property Group

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