Simon Property Group, Inc. $SPG Stake Increased by Cascade Financial Partners LLC

Key Points

• Cascade Financial Partners LLC increased its stake in Simon Property Group, Inc. by 237.3% in the first quarter, with their holdings valued at approximately $699,000.
• Several institutional investors, including NewEdge Advisors LLC and Marshall Wace LLP, also significantly increased their positions in Simon Property Group during the fourth quarter.
• Simon Property Group declared a quarterly dividend of $2.15 per share, an increase from the previous $2.10, with the ex-dividend date set for September 9th.

Cascade Financial Partners LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 237.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,209 shares of the real estate investment trust's stock after buying an additional 2,961 shares during the period. Cascade Financial Partners LLC's holdings in Simon Property Group were worth $699,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in Simon Property Group in the 4th quarter valued at $295,000. XTX Topco Ltd purchased a new position in Simon Property Group during the 4th quarter worth $539,000. Bridgewater Associates LP purchased a new position in Simon Property Group during the 4th quarter worth $203,000. NewEdge Advisors LLC raised its position in Simon Property Group by 88.4% during the 4th quarter. NewEdge Advisors LLC now owns 25,363 shares of the real estate investment trust's stock worth $4,368,000 after buying an additional 11,898 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Simon Property Group by 243.6% during the 4th quarter. Marshall Wace LLP now owns 12,549 shares of the real estate investment trust's stock worth $2,161,000 after buying an additional 8,897 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Up 1.3%

Shares of SPG traded up $2.2040 during mid-day trading on Tuesday, hitting $174.7640. The company had a trading volume of 1,907,467 shares, compared to its average volume of 1,509,913. The business's 50-day simple moving average is $163.82 and its 200-day simple moving average is $164.69. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The stock has a market cap of $57.06 billion, a PE ratio of 27.01, a P/E/G ratio of 11.57 and a beta of 1.48.

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 (EPS) 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 analysts' expectations of $1.40 billion. During the same period last year, the company earned $2.90 earnings per share. The company's quarterly 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. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is presently 129.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SPG. Stifel Nicolaus set a $179.00 price objective on shares of Simon Property Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. cut 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 report on Thursday, May 22nd. Scotiabank upped 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 report on Tuesday, June 17th. Barclays started coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $182.64.

Insider Activity

In related news, Director Larry C. Glasscock purchased 396 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, for a total transaction of $63,078.84. Following the completion of the purchase, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $39,185.34. Following the purchase, the director owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,428 shares of company stock valued at $387,271 over the last quarter. 8.60% of the stock is owned by insiders.

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.