Ritholtz Wealth Management Trims Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Ritholtz Wealth Management has reduced its stake in Simon Property Group, Inc. by 35.6%, selling 3,223 shares and now owning 5,819 shares worth $935,000.
• Insiders, including directors Glyn Aeppel and Gary M. Rodkin, have recently purchased shares of Simon Property Group, indicating confidence in the company's future performance.
• Simon Property Group's stock has a current market cap of $58.19 billion, with analysts offering a range of ratings and target prices, including a "buy" from LADENBURG THALM/SH SH at $225.00.

Ritholtz Wealth Management reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 35.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,819 shares of the real estate investment trust's stock after selling 3,223 shares during the quarter. Ritholtz Wealth Management's holdings in Simon Property Group were worth $935,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in Simon Property Group during the 2nd quarter valued at $25,000. Park Square Financial Group LLC boosted its holdings in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 111 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at $47,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a 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 acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the transaction, the director owned 19,229 shares in the company, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,163 shares of company stock worth $401,605 in the last quarter. Insiders own 8.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SPG shares. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Simon Property Group in a report on Tuesday, October 14th. Barclays boosted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. Argus reiterated a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Evercore ISI upped their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an "in-line" rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $187.31.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $178.23 on Friday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The firm's 50-day moving average is $179.20 and its 200 day moving average is $166.31. 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 has a market cap of $58.19 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 13.06 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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 analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. Simon Property Group's revenue 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. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group's payout ratio is presently 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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