Aware Super Pty Ltd as trustee of Aware Super Acquires 12,411 Shares of Simon Property Group, Inc. $SPG

Key Points

• Aware Super Pty Ltd increased its stake in Simon Property Group by 6.7%, acquiring an additional 12,411 shares, bringing its total holdings to 198,140 shares valued at approximately $31.85 million.
• Simon Property Group reported a net margin of 36.78% and a revenue of $1.50 billion for the quarter, beating analyst expectations.
• The company announced an increase in its quarterly dividend from $2.10 to $2.15, reflecting a dividend payout ratio of 132.92% and a yield of 4.8%.

Aware Super Pty Ltd as trustee of Aware Super raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,140 shares of the real estate investment trust's stock after buying an additional 12,411 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super owned 0.06% of Simon Property Group worth $31,853,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Great Lakes Advisors LLC increased its stake in Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital increased its stake in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC increased its stake in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after purchasing an additional 70 shares in the last quarter. Finally, Aspiriant LLC increased its stake in Simon Property Group by 1.3% during the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE:SPG opened at $178.58 on Thursday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. 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 fifty day simple moving average of $178.73 and a 200 day simple moving average of $166.18. The stock has a market capitalization of $58.30 billion, a PE ratio of 27.60, a P/E/G ratio of 12.89 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the business earned $2.90 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

Insiders Place Their Bets

In other news, Director Larry C. Glasscock bought 351 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares of the company's stock, valued at $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Reuben S. Leibowitz acquired 464 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $86,280.80. Following the completion of the transaction, the director owned 58,659 shares of the company's stock, valued at approximately $10,907,641.05. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,163 shares of company stock valued at $401,605 in the last ninety days. 8.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPG. JPMorgan Chase & Co. increased their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Morgan Stanley increased their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $187.23.

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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