CKW Financial Group Purchases New Shares in Simon Property Group, Inc. $SPG

Key Points

• CKW Financial Group has recently invested $279,000 in Simon Property Group, acquiring 1,677 shares of the real estate investment trust.
• Simon Property Group announced an increase in its quarterly dividend to $2.15 per share, reflecting a boost from the previous $2.10.
• Analysts have mixed ratings on Simon Property Group, with five analysts giving it a "Buy" rating and seven a "Hold" rating, currently reflecting an average target price of $184.92.

CKW Financial Group purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,677 shares of the real estate investment trust's stock, valued at approximately $279,000.

Several other large investors also recently made changes to their positions in SPG. Park Square Financial Group LLC boosted its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. boosted its stake in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC boosted its stake in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares during the period. Colonial Trust Co SC boosted its stake in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 95 shares during the period. Institutional investors own 93.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the acquisition, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This represents a 0.91% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry C. Glasscock bought 396 shares of the company's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares in the company, valued at $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,428 shares of company stock worth $387,271 in the last 90 days. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock traded down $3.14 during mid-day trading on Tuesday, reaching $179.41. The stock had a trading volume of 1,860,381 shares, compared to its average volume of 1,583,466. The firm's 50 day simple moving average is $169.78 and its 200 day simple moving average is $164.33. 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 one year low of $136.34 and a one year high of $190.13. The firm has a market cap of $58.58 billion, a PE ratio of 27.73, a P/E/G ratio of 11.05 and a beta of 1.50.

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, topping analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.90 EPS. 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. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current 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 issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is currently 132.92%.

Analyst Ratings Changes

Several analysts recently weighed in on SPG shares. Scotiabank increased their target price on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Argus restated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a research note on Friday. Stifel Nicolaus downgraded Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Truist Financial increased 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. Finally, Piper Sandler decreased their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $184.92.

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.