Advisors Capital Management LLC Lowers Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Advisors Capital Management LLC reduced its stake in Simon Property Group by 1.6% in Q1, holding 121,053 shares valued at approximately $20.1 million.
• Simon Property Group recently announced a dividend increase to $2.15 per share, up from $2.10, equating to a 4.8% dividend yield.
• The company reported $3.05 EPS for the last quarter, exceeding expectations, alongside a revenue of $1.50 billion, marking a 13.9% year-over-year increase.

Advisors Capital Management LLC lowered its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,053 shares of the real estate investment trust's stock after selling 1,922 shares during the period. Advisors Capital Management LLC's holdings in Simon Property Group were worth $20,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPG. Brighton Jones LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at $295,000. Lazard Asset Management LLC boosted its holdings in Simon Property Group by 1.5% in the fourth quarter. Lazard Asset Management LLC now owns 96,745 shares of the real estate investment trust's stock valued at $16,659,000 after acquiring an additional 1,441 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Simon Property Group by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,025 shares of the real estate investment trust's stock valued at $6,367,000 after acquiring an additional 1,505 shares during the last quarter. NorthRock Partners LLC boosted its holdings in Simon Property Group by 116.5% in the fourth quarter. NorthRock Partners LLC now owns 4,531 shares of the real estate investment trust's stock valued at $780,000 after acquiring an additional 2,438 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Simon Property Group in the fourth quarter valued at $7,873,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 0.0%

Shares of SPG opened at $179.40 on Thursday. The stock's 50-day moving average is $170.05 and its two-hundred day moving average is $164.43. The stock has a market cap of $58.57 billion, a PE ratio of 27.73, a P/E/G ratio of 10.86 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's payout ratio is presently 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Gary M. Rodkin purchased 246 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock purchased 396 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,428 shares of company stock valued at $387,271. Insiders own 8.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPG. Scotiabank lifted their target price on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Finally, Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $184.92.

About Simon Property Group

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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