Lodestone Wealth Management LLC Has $2.92 Million Stake in Simon Property Group, Inc. $SPG

Lodestone Wealth Management LLC lessened its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 49.5% during the third quarter, Holdings Channel reports. The fund owned 15,555 shares of the real estate investment trust’s stock after selling 15,248 shares during the quarter. Simon Property Group comprises 1.3% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Lodestone Wealth Management LLC’s holdings in Simon Property Group were worth $2,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPG. Trust Co. of Toledo NA OH acquired a new stake in Simon Property Group in the second quarter worth $25,000. VSM Wealth Advisory LLC bought a new position in shares of Simon Property Group during the 2nd quarter worth about $30,000. Silicon Valley Capital Partners acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc increased its position 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, Salomon & Ludwin LLC bought a new stake in shares of Simon Property Group during the third quarter valued at approximately $39,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 0.2%

Simon Property Group stock opened at $184.60 on Monday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50-day simple moving average is $183.78 and its 200 day simple moving average is $177.30. The stock has a market cap of $60.27 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 8.80 and a beta of 1.37.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date was Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio is currently 128.09%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 216 shares of the stock in a transaction dated Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the purchase, the director directly owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This trade represents a 1.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary M. Rodkin purchased 226 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the completion of the acquisition, the director directly owned 19,455 shares in the company, valued at $3,618,630. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 2,192 shares of company stock worth $407,712. 8.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Evercore ISI boosted their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Mizuho set a $192.00 target price on shares of Simon Property Group in a report on Friday. Scotiabank lifted their price target on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Finally, UBS Group boosted their price objective on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $191.54.

About Simon Property Group

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.