Wealth Preservation Advisors LLC Invests $1.33 Million in Simon Property Group, Inc. $SPG

Key Points

• Wealth Preservation Advisors LLC has invested approximately $1.33 million in Simon Property Group, acquiring 8,002 shares and making it their 18th largest holding.
• Simon Property Group recently increased its quarterly dividend from $2.10 to $2.15 per share, reflecting strong financial performance with a net margin of 36.78% in its latest earnings report.
• Analysts have mixed ratings on Simon Property Group, with price targets ranging from $163.00 to $200.00, indicating overall cautious optimism about its future performance.

Wealth Preservation Advisors LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,002 shares of the real estate investment trust's stock, valued at approximately $1,329,000. Simon Property Group makes up 0.9% of Wealth Preservation Advisors LLC's holdings, making the stock its 18th largest holding.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Simon Property Group by 31.1% during the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after buying an additional 789 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Simon Property Group by 193.5% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth $295,000. J.W. Cole Advisors Inc. acquired a new stake in Simon Property Group in the first quarter valued at $895,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after purchasing an additional 4,589 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith acquired 378 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $60,211.62. Following the transaction, the director directly owned 31,998 shares in the company, valued at approximately $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,428 shares of company stock worth $387,271. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPG. Scotiabank increased their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. increased their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Piper Sandler decreased their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $184.00.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $177.09 on Wednesday. The company has a market cap of $57.82 billion, a P/E ratio of 27.37, a PEG ratio of 10.66 and a beta of 1.48. The business has a 50-day moving average price of $165.58 and a two-hundred day moving average price of $164.63. 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, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

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

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. 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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