IPG Investment Advisors LLC Purchases Shares of 8,509 Simon Property Group, Inc. $SPG

by · The Markets Daily

IPG Investment Advisors LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,509 shares of the real estate investment trust’s stock, valued at approximately $1,903,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SPG. Stance Capital LLC purchased a new position in Simon Property Group in the 3rd quarter worth $26,000. Ancora Advisors LLC bought a new stake in Simon Property Group in the second quarter valued at approximately $27,000. Wilkerson Advisory Group LLC bought a new position in shares of Simon Property Group in the fourth quarter worth approximately $29,000. Osbon Capital Management LLC bought a new stake in Simon Property Group during the 2nd quarter valued at $32,000. Finally, SHP Wealth Management purchased a new position in shares of Simon Property Group in the fourth quarter valued at about $34,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Simon Property Group from $194.00 to $209.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Truist Financial increased their target price on Simon Property Group from $196.00 to $215.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley raised their price objective on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 price objective on the stock. in a report on Thursday, July 9th. Finally, Scotiabank boosted their target price on Simon Property Group from $220.00 to $222.00 and gave the stock a “sector perform” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $228.14.

Get Our Latest Research Report on SPG

Insiders Place Their Bets

In related news, Director Larry C. Glasscock acquired 397 shares of Simon Property Group stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the purchase, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. This trade represents a 0.87% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel purchased 243 shares of Simon Property Group stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $223.36 per share, with a total value of $54,276.48. Following the transaction, the director owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. This represents a 1.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 2,387 shares of company stock valued at $533,056. 8.73% of the stock is currently owned by company insiders.

Simon Property Group Trading Down 3.5%

Shares of NYSE:SPG opened at $204.47 on Thursday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.05 and a quick ratio of 1.05. Simon Property Group, Inc. has a 1 year low of $172.19 and a 1 year high of $238.50. The company has a market cap of $66.16 billion, a P/E ratio of 14.42, a PEG ratio of 3.19 and a beta of 1.28. The stock’s fifty day moving average price is $221.57 and its 200-day moving average price is $208.72.

Simon Property Group (NYSE:SPG – Get Free Report) last issued its earnings results on Monday, August 10th. The real estate investment trust reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.15). Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%.The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm posted $1.70 EPS. Simon Property Group’s quarterly revenue was up 19.5% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 13.2 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. Simon Property Group’s dividend payout ratio is currently 63.47%.

Simon Property Group Company Profile

(Free Report)

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.

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