Argentarii LLC Sells 2,651 Shares of Simon Property Group, Inc. $SPG

Key Points

• Argentarii LLC reduced its holdings in Simon Property Group by 41.1%, selling 2,651 shares to lower ownership to 3,792 shares worth approximately $610,000.
• Analysts have mixed ratings on Simon Property Group, with Piper Sandler raising the target price to $210.00, while Mizuho decreased it to $169.00, reflecting varied outlooks on the stock's performance.
• Simon Property Group recently announced a quarterly dividend increase from $2.10 to $2.15 per share, highlighting a 4.7% dividend yield while maintaining a high payout ratio of 132.92%.

Argentarii LLC reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 41.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,792 shares of the real estate investment trust's stock after selling 2,651 shares during the quarter. Argentarii LLC's holdings in Simon Property Group were worth $610,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Great Lakes Advisors LLC raised its stake in shares of Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 68 shares during the period. Wedmont Private Capital raised its stake in shares of Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 68 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after buying an additional 70 shares during the period. Aspiriant LLC raised its stake in shares of Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after buying an additional 74 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Simon Property Group by 2.2% in the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust's stock valued at $544,000 after buying an additional 75 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPG shares. Piper Sandler boosted their target price on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Truist Financial boosted their target price on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Mizuho lowered their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Finally, LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.46.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel bought 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the acquisition, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. The trade was a 1.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary M. Rodkin bought 246 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock worth $387,271 over the last three months. Corporate insiders own 8.60% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $181.25 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market capitalization of $59.18 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The business's 50-day moving average price is $172.94 and its 200-day moving average price is $164.18. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates 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 revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. Simon Property Group's dividend payout ratio is currently 132.92%.

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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