Wealthcare Advisory Partners LLC Makes New $451,000 Investment in Simon Property Group, Inc. $SPG

Key Points

• Wealthcare Advisory Partners LLC has made a new investment of $451,000 in Simon Property Group, acquiring 2,805 shares during the second quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, marking an increase from their previous payout of $2.10, with a current annualized yield of 4.8%.
• Analysts have set various price targets for Simon Property Group, with JPMorgan raising its target from $180.00 to $184.00 and Evercore ISI increasing it to $187.00, while overall consensus remains a "Hold" rating.

Wealthcare Advisory Partners LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,805 shares of the real estate investment trust's stock, valued at approximately $451,000.

Several other hedge funds have also recently bought and sold shares of SPG. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter worth $295,000. Farther Finance Advisors LLC increased its position in 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 during the last quarter. Pallas Capital Advisors LLC acquired a new position in Simon Property Group during the first quarter worth $210,000. SG Americas Securities LLC increased its position in Simon Property Group by 782.1% during the first quarter. SG Americas Securities LLC now owns 63,080 shares of the real estate investment trust's stock worth $10,476,000 after buying an additional 55,929 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its position in Simon Property Group by 4.8% during the first quarter. Integrated Advisors Network LLC now owns 19,764 shares of the real estate investment trust's stock worth $3,282,000 after buying an additional 903 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary M. Rodkin purchased 219 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the purchase, the director owned 19,229 shares of the company's stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by company insiders.

Simon Property Group Stock Up 0.4%

NYSE SPG opened at $178.87 on Friday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a 50-day simple moving average of $177.83 and a 200 day simple moving average of $165.90. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock has a market cap of $58.40 billion, a PE ratio of 27.65, a PEG ratio of 10.79 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating 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 business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the company earned $2.90 earnings per share. The firm'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, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group's dividend payout ratio is 132.92%.

Analysts Set New Price Targets

Several equities analysts have commented on SPG shares. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Simon Property Group in a research report on Saturday, September 27th. Evercore ISI reaffirmed an "in-line" rating and issued a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Finally, Scotiabank raised their price target on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research report on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $187.23.

Simon Property Group 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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