Phoenix Financial Ltd. Makes New $502,000 Investment in Simon Property Group, Inc. $SPG

Phoenix Financial Ltd. purchased a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,126 shares of the real estate investment trust's stock, valued at approximately $502,000.

A number of other large investors also recently modified their holdings of the stock. Bogart Wealth LLC lifted its holdings in shares of Simon Property Group by 14.9% in the second quarter. Bogart Wealth LLC now owns 47,446 shares of the real estate investment trust's stock valued at $7,627,000 after purchasing an additional 6,146 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Simon Property Group in the second quarter valued at approximately $278,000. SAM Advisors LLC lifted its holdings in shares of Simon Property Group by 3.2% in the second quarter. SAM Advisors LLC now owns 21,642 shares of the real estate investment trust's stock valued at $3,479,000 after purchasing an additional 675 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Simon Property Group in the second quarter valued at approximately $68,013,000. Finally, Spirit of America Management Corp NY lifted its holdings in shares of Simon Property Group by 3.5% in the second quarter. Spirit of America Management Corp NY now owns 17,600 shares of the real estate investment trust's stock valued at $2,829,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Truist Financial raised their target price on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Barclays increased their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $187.31.

Insiders Place Their Bets

In other news, Director Larry C. Glasscock bought 351 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was acquired 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 of the company's stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary M. Rodkin bought 219 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company's stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,163 shares of company stock valued at $401,605. Company insiders own 8.66% of the company's stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $179.93 on Thursday. 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 has a fifty day simple moving average of $179.80 and a two-hundred day simple moving average of $166.80. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a market capitalization of $58.75 billion, a P/E ratio of 27.81, a P/E/G ratio of 13.11 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $2.90 earnings per share. The business's revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

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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