APG Asset Management US Inc. Acquires 8,057 Shares of Simon Property Group, Inc. $SPG

Key Points

• APG Asset Management US Inc. increased its stake in Simon Property Group by 1.5%, acquiring 8,057 additional shares, bringing its total holdings to 562,210 shares valued at approximately $93.6 million.
• Simon Property Group recently announced a quarterly dividend increase to $2.15 per share, reflecting an annualized dividend of $8.60 and a yield of 5.0%.
• Major institutional investors including Vanguard Group and Northern Trust Corp have also raised their stakes in Simon Property Group during the 1st quarter of the year, indicating strong interest in the company.

APG Asset Management US Inc. boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 562,210 shares of the real estate investment trust's stock after purchasing an additional 8,057 shares during the quarter. Simon Property Group comprises 0.7% of APG Asset Management US Inc.'s portfolio, making the stock its 23rd biggest holding. APG Asset Management US Inc. owned 0.17% of Simon Property Group worth $93,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the period. Northern Trust Corp raised its stake in Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock valued at $923,236,000 after purchasing an additional 96,126 shares during the period. JPMorgan Chase & Co. raised its stake in Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock valued at $805,853,000 after purchasing an additional 141,657 shares during the period. Nuveen LLC bought a new stake in Simon Property Group during the 1st quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Simon Property Group by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock valued at $608,086,000 after purchasing an additional 23,873 shares during the period. Institutional investors own 93.01% of the company's stock.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry C. Glasscock purchased 396 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. The trade was a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 in the last three months. Corporate insiders own 8.66% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $173.4530 on Friday. The stock has a market cap of $56.63 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 10.53 and a beta of 1.48. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50 day moving average price of $164.41 and a 200-day moving average price of $164.75. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results 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 firm had revenue of $1.50 billion during 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 company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $2.15 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 5.0%. Simon Property Group's dividend payout ratio (DPR) is presently 132.92%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPG. Stifel Nicolaus set a $179.00 target price on Simon Property Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price target for the company. JPMorgan Chase & Co. cut their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $182.64.

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.

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