Simon Property Group, Inc. $SPG Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,662 shares of the real estate investment trust's stock after selling 10,132 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Simon Property Group worth $45,119,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Great Lakes Advisors LLC lifted its holdings in Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 68 shares during the period. Wedmont Private Capital lifted its holdings in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after acquiring an additional 68 shares during the period. PFS Partners LLC lifted its holdings in Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock valued at $91,000 after acquiring an additional 68 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after acquiring an additional 70 shares during the period. Finally, Aspiriant LLC lifted its holdings in Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after acquiring an additional 74 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.4%

Shares of SPG opened at $175.77 on Wednesday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock has a market capitalization of $57.39 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 10.69 and a beta of 1.50. The stock has a 50 day moving average price of $178.51 and a 200 day moving average price of $166.10.

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 EPS for the quarter, topping 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 firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the business earned $2.90 earnings per share. The firm'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. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. Simon Property Group's dividend payout ratio (DPR) is presently 132.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Argus restated a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Piper Sandler boosted their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Barclays boosted their price objective 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, Morgan Stanley boosted their price objective 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. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average target price of $187.23.

Insider Activity

In related news, Director Larry C. Glasscock bought 351 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the acquisition, the director directly owned 43,536 shares in the company, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel bought 208 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock valued at $401,605 in the last three months. Company insiders own 8.60% of the company's stock.

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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