BI Asset Management Fondsmaeglerselskab A S Has $6.83 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its holdings in Simon Property Group, Inc. by 88.5% in the first quarter, owning 41,105 shares valued at approximately $6.83 million.
• Simon Property Group announced a quarterly dividend of $2.15 per share, increasing from the previous $2.10, resulting in an annualized dividend yield of 4.9%.
• Analysts have mixed ratings for SPG, with five giving a Buy and six assigning a Hold, leading to an average price target of $182.64.

BI Asset Management Fondsmaeglerselskab A S raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 88.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,105 shares of the real estate investment trust's stock after acquiring an additional 19,295 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Simon Property Group were worth $6,827,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its stake in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC lifted its stake in Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPG has been the subject of a number of analyst reports. Barclays started coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Stifel Nicolaus set a $179.00 price objective on shares of Simon Property Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Mizuho reduced their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Scotiabank boosted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $182.64.

Simon Property Group Stock Up 1.3%

SPG opened at $174.7640 on Wednesday. The firm's 50-day simple moving average is $163.82 and its 200-day simple moving average is $164.69. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The firm has a market cap of $57.06 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 11.57 and a beta of 1.48.

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 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts anticipate 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 will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is currently 129.83%.

Insider Buying and Selling at Simon Property Group

In related news, Director Daniel C. Smith purchased 378 shares of Simon Property Group 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 $60,211.62. Following the transaction, the director directly owned 31,998 shares in the company, valued at approximately $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary M. Rodkin purchased 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $39,185.34. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,428 shares of company stock worth $387,271 over the last quarter. Corporate insiders own 8.60% of the company's stock.

Simon Property Group 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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