HBK Sorce Advisory LLC Takes $546,000 Position in Simon Property Group, Inc. $SPG

HBK Sorce Advisory LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 3,062 shares of the real estate investment trust’s stock, valued at approximately $546,000.

Several other hedge funds have also recently added to or reduced their stakes in SPG. Trust Co. of Toledo NA OH bought a new position in Simon Property Group during the second quarter worth about $25,000. Silicon Valley Capital Partners bought a new position in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc boosted its stake in Simon Property Group by 205.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Finally, Clearstead Trust LLC grew its position in Simon Property Group by 68.4% in the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Evercore ISI raised their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Finally, Piper Sandler lifted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $190.46.

Insider Activity at Simon Property Group

In related news, Director Gary M. Rodkin acquired 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares in the company, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glyn Aeppel bought 208 shares of the business’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 $38,677.60. Following the purchase, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 2,121 shares of company stock worth $394,400 over the last 90 days. Insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $188.29 on Friday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm’s 50 day moving average is $182.02 and its 200-day moving average is $174.97. The firm has a market capitalization of $61.47 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 9.18 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. Simon Property Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.7%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is presently 128.09%.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.