Simon Property Group, Inc. $SPG Shares Purchased by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC increased its holdings in Simon Property Group by 6.3% during the second quarter, owning approximately 118,621 shares valued at $19.07 million.
• Simon Property Group recently announced a quarterly dividend of $2.15, increasing from the previous $2.10, reflecting a dividend yield of 4.6%.
• The company reported a 12.9% year-over-year revenue increase in its latest quarterly earnings, generating $1.50 billion against analyst estimates of $1.40 billion.

Sound Income Strategies LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,621 shares of the real estate investment trust's stock after buying an additional 7,005 shares during the quarter. Simon Property Group comprises approximately 1.1% of Sound Income Strategies LLC's investment portfolio, making the stock its 25th largest holding. Sound Income Strategies LLC's holdings in Simon Property Group were worth $19,070,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC raised its position in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 95 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $47,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPG shares. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 target price for the company. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. Mizuho decreased their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Morgan Stanley raised their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Finally, Piper Sandler upped their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $186.46.

Simon Property Group Price Performance

NYSE:SPG opened at $185.29 on Monday. The stock has a 50 day moving average of $174.72 and a two-hundred day moving average of $164.75. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The firm has a market cap of $60.50 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 11.23 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last issued 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. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $2.90 earnings per share. The business'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. On average, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced 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 4.6%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is currently 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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