Simon Property Group, Inc. $SPG Shares Bought by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC increased its holdings in Simon Property Group by 96.7%, owning 19,778 shares worth approximately $3.28 million after acquiring an additional 9,721 shares in the last quarter.
• Insider directors Reuben S. Leibowitz and Larry C. Glasscock each made purchases of Simon Property Group stock, with Leibowitz buying 522 shares and Glasscock buying 396 shares, indicating management's confidence in the company.
• Simon Property Group recently increased its quarterly dividend to $2.15 per share, reflecting a strong annualized yield of 4.8% and a positive outlook for its financial performance.

CreativeOne Wealth LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 96.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,778 shares of the real estate investment trust's stock after acquiring an additional 9,721 shares during the quarter. CreativeOne Wealth LLC's holdings in Simon Property Group were worth $3,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Samalin Investment Counsel LLC lifted its holdings in Simon Property Group by 49.7% in the 1st quarter. Samalin Investment Counsel LLC now owns 2,008 shares of the real estate investment trust's stock valued at $334,000 after acquiring an additional 667 shares during the last quarter. Harvest Portfolios Group Inc. lifted its holdings in Simon Property Group by 21.1% in the 1st quarter. Harvest Portfolios Group Inc. now owns 9,864 shares of the real estate investment trust's stock valued at $1,638,000 after acquiring an additional 1,718 shares during the last quarter. WealthTrust Axiom LLC lifted its holdings in Simon Property Group by 40.0% in the 1st quarter. WealthTrust Axiom LLC now owns 2,800 shares of the real estate investment trust's stock valued at $465,000 after acquiring an additional 800 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in Simon Property Group by 3.7% in the 1st quarter. Freedom Investment Management Inc. now owns 2,174 shares of the real estate investment trust's stock valued at $361,000 after acquiring an additional 78 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in Simon Property Group by 24.8% in the 1st quarter. Synovus Financial Corp now owns 1,847 shares of the real estate investment trust's stock valued at $307,000 after acquiring an additional 367 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 522 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the completion of the transaction, the director directly owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock purchased 396 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,428 shares of company stock valued at $387,271 over the last ninety days. Insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPG. Stifel Nicolaus set a $179.00 price target on shares of Simon Property Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 price objective for the company. Piper Sandler reduced their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Barclays initiated coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $184.00.

Simon Property Group Price Performance

NYSE SPG opened at $178.42 on Thursday. The company has a 50 day simple moving average of $166.01 and a 200-day simple moving average of $164.73. 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 firm has a market capitalization of $58.25 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 10.71 and a beta of 1.48. 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 posted its quarterly 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is currently 129.83%.

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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