TD Asset Management Inc Acquires 3,596 Shares of Simon Property Group, Inc. $SPG

by · The Cerbat Gem

TD Asset Management Inc boosted its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 2.6% during the second quarter, Holdings Channel.com reports. The firm owned 142,870 shares of the real estate investment trust’s stock after acquiring an additional 3,596 shares during the quarter. TD Asset Management Inc’s holdings in Simon Property Group were worth $22,968,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Advisors Inc. OK grew its stake in shares of Simon Property Group by 0.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after buying an additional 2,064 shares during the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Simon Property Group in the second quarter worth $283,000. Focus Partners Wealth increased its holdings in shares of Simon Property Group by 89.0% during the first quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock valued at $18,959,000 after acquiring an additional 53,764 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 509 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Simon Property Group by 5.7% in the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after purchasing an additional 1,750 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Stefan M. Selig acquired 195 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the transaction, the director owned 32,076 shares in the company, valued at $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock bought 351 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,163 shares of company stock valued at $401,605 over the last ninety days. 8.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPG. Truist Financial raised their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday. Argus reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, Evercore ISI boosted their price target on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $187.31.

Read Our Latest Analysis on SPG

Simon Property Group Stock Performance

Shares of SPG stock opened at $178.23 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a 50 day moving average price of $179.20 and a 200-day moving average price of $166.34. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The firm has a market capitalization of $58.19 billion, a PE ratio of 27.55, a P/E/G ratio of 12.96 and a beta of 1.50.

Simon Property Group (NYSE:SPG – Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (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 company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $2.90 earnings per share. The firm’s quarterly 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. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio is presently 132.92%.

About Simon Property Group

(Free Report)

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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