Wealth Enhancement Advisory Services LLC Acquires 6,069 Shares of Simon Property Group, Inc. $SPG

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Simon Property Group by 23.5%, now owning a total of 31,923 shares valued at approximately $5.32 million.
• Simon Property Group's quarterly dividend has been raised to $2.15 per share, reflecting a positive change from its previous dividend of $2.10.
• Recent analyst reports indicate varying ratings for Simon Property Group, with targets ranging from $170.00 to $210.00, and an average rating of "Hold" among analysts.

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,923 shares of the real estate investment trust's stock after purchasing an additional 6,069 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Simon Property Group were worth $5,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Brighton Jones LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at $295,000. Ascent Group LLC grew its holdings in shares of Simon Property Group by 17.3% during the 4th quarter. Ascent Group LLC now owns 2,677 shares of the real estate investment trust's stock valued at $461,000 after purchasing an additional 395 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of Simon Property Group during the 4th quarter valued at $466,000. 111 Capital bought a new position in shares of Simon Property Group during the 4th quarter valued at $284,000. Finally, Chancellor Financial Group WB LP bought a new position in shares of Simon Property Group during the 4th quarter valued at $213,000. Institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In related news, Director Gary M. Rodkin bought 246 shares of the company's stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the transaction, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reuben S. Leibowitz bought 522 shares of the company's 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 $83,149.38. Following the completion of the transaction, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Evercore ISI reaffirmed an "in-line" rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a research report on Tuesday, September 2nd. Piper Sandler increased their price target on shares of 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 began coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $186.46.

Simon Property Group Trading Down 0.4%

NYSE:SPG opened at $183.40 on Thursday. The company has a 50-day moving average price of $173.87 and a 200-day moving average price of $164.45. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $59.88 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 11.15 and a beta of 1.50.

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. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the company posted $2.90 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 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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