Lodestone Wealth Management LLC Has $3.31 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Lodestone Wealth Management LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,603 shares of the real estate investment trust’s stock after selling 111 shares during the period. Simon Property Group accounts for approximately 1.6% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Lodestone Wealth Management LLC’s holdings in Simon Property Group were worth $3,313,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPG. Clearstead Trust LLC acquired a new stake in Simon Property Group during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the second quarter worth $25,000. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group in the second quarter valued at about $27,000. Finally, RFP Financial Group LLC grew its stake in shares of Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPG has been the subject of several analyst reports. Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Mizuho boosted their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Truist Financial increased their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Price Performance

Simon Property Group stock opened at $167.70 on Friday. The stock has a fifty day moving average of $168.55 and a 200-day moving average of $156.39. The stock has a market capitalization of $54.68 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 9.61 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a 52 week low of $113.40 and a 52 week high of $177.08.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 EPS. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.01%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 104.19%.

Simon Property Group Company 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.