Avanza Fonder AB Has $3.83 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Avanza Fonder AB has increased its position in Simon Property Group shares by 12.1% during the second quarter, now holding 23,797 shares valued at approximately $3.83 million.
• Simon Property Group announced a quarterly dividend increase from $2.10 to $2.15 per share, reflecting a 4.8% yield and a dividend payout ratio of 132.92%.
• Recent analyst ratings show a mix of opinions, with four analysts rating it as a "Buy" and nine as a "Hold," and an average price target of $186.46.

Avanza Fonder AB grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,797 shares of the real estate investment trust's stock after acquiring an additional 2,565 shares during the quarter. Avanza Fonder AB's holdings in Simon Property Group were worth $3,826,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Simon Property Group by 6.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,532 shares of the real estate investment trust's stock valued at $568,000 after purchasing an additional 207 shares during the period. CX Institutional increased its position in Simon Property Group by 23.3% during the 2nd quarter. CX Institutional now owns 1,654 shares of the real estate investment trust's stock worth $266,000 after purchasing an additional 313 shares during the period. Global X Japan Co. Ltd. raised its position in shares of Simon Property Group by 26.7% during the 2nd quarter. Global X Japan Co. Ltd. now owns 1,036 shares of the real estate investment trust's stock worth $167,000 after purchasing an additional 218 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Simon Property Group in the 2nd quarter worth about $60,849,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Simon Property Group by 22.2% during the second quarter. Exchange Traded Concepts LLC now owns 84,894 shares of the real estate investment trust's stock worth $13,648,000 after purchasing an additional 15,429 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPG. Piper Sandler raised their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday. Evercore ISI restated an "in-line" rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Morgan Stanley raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a report on Tuesday, September 2nd. Finally, Truist Financial upped their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $186.46.

Simon Property Group Stock Performance

Shares of SPG traded up $0.53 on Monday, reaching $181.25. The company's stock had a trading volume of 1,401,293 shares, compared to its average volume of 2,005,600. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market capitalization of $59.18 billion, a P/E ratio of 28.01, a PEG ratio of 10.94 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The stock's 50 day simple moving average is $172.94 and its two-hundred day simple moving average is $164.18.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is presently 132.92%.

Insider Buying and Selling at Simon Property Group

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

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.