Simon Property Group, Inc. $SPG Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has sold 10,457 shares of Simon Property Group, reducing its stake by 69.7% to a remaining 4,542 shares valued at $738,000.
• Several institutional investors, including Welch Group LLC and Vanguard Personalized Indexing Management LLC, have increased their positions in Simon Property Group, showcasing continued interest from the investment community.
• Simon Property Group has recently increased its quarterly dividend from $2.10 to $2.15 per share, reflecting a 4.8% yield, and reported a revenue increase of 13.9% year-over-year.

Atria Wealth Solutions Inc. reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 69.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,542 shares of the real estate investment trust's stock after selling 10,457 shares during the period. Atria Wealth Solutions Inc.'s holdings in Simon Property Group were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Welch Group LLC increased its position in Simon Property Group by 17.9% during the 2nd quarter. Welch Group LLC now owns 2,972 shares of the real estate investment trust's stock valued at $478,000 after buying an additional 452 shares in the last quarter. Genesee Capital Advisors LLC increased its position in Simon Property Group by 2.5% during the 2nd quarter. Genesee Capital Advisors LLC now owns 5,656 shares of the real estate investment trust's stock valued at $909,000 after buying an additional 139 shares in the last quarter. CWM LLC increased its position in Simon Property Group by 22.1% during the 2nd quarter. CWM LLC now owns 12,763 shares of the real estate investment trust's stock valued at $2,052,000 after buying an additional 2,310 shares in the last quarter. OFI Invest Asset Management increased its position in Simon Property Group by 6.2% during the 2nd quarter. OFI Invest Asset Management now owns 3,752 shares of the real estate investment trust's stock valued at $603,000 after buying an additional 219 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Simon Property Group by 22.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,272 shares of the real estate investment trust's stock valued at $7,439,000 after purchasing an additional 8,406 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPG. Piper Sandler raised their price objective on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Barclays raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Monday, October 6th. Truist Financial raised their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. Scotiabank raised their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $187.31.

Simon Property Group Stock Up 0.8%

Simon Property Group stock opened at $178.23 on Friday. The firm has a market cap of $58.19 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The business's 50-day moving average price is $179.20 and its 200 day moving average price is $166.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its 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. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a 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 was Tuesday, September 9th. Simon Property Group's dividend payout ratio is 132.92%.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith purchased 335 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company's stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stefan M. Selig purchased 195 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the transaction, the director directly owned 32,076 shares of the company's stock, valued at $5,964,532.20. This represents a 0.61% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 2,163 shares of company stock valued at $401,605 over the last 90 days. Company insiders own 8.66% of the company's stock.

About Simon Property Group

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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