Commerzbank Aktiengesellschaft FI Boosts Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Commerzbank Aktiengesellschaft FI increased its holdings in Simon Property Group by 41.7%, owning 6,232 shares valued at approximately $1,002,000 as of its last SEC filing.
• Several institutional investors also boosted their positions, with Callan Family Office LLC raising its stake by 218% during the same period, highlighting growing confidence in the company.
• Simon Property Group announced a quarterly dividend of $2.15 per share, up from the previous $2.10, with an annualized dividend yield of 4.9%.

Commerzbank Aktiengesellschaft FI grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 41.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,232 shares of the real estate investment trust's stock after buying an additional 1,835 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Simon Property Group were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Simon Property Group by 4.6% during the second quarter. IFP Advisors Inc now owns 4,281 shares of the real estate investment trust's stock valued at $692,000 after buying an additional 187 shares during the last quarter. Callan Family Office LLC lifted its position in Simon Property Group by 218.0% during the second quarter. Callan Family Office LLC now owns 6,271 shares of the real estate investment trust's stock valued at $1,008,000 after purchasing an additional 4,299 shares during the period. Leo Wealth LLC bought a new position in Simon Property Group during the second quarter valued at approximately $226,000. US Bancorp DE lifted its position in Simon Property Group by 3.7% during the second quarter. US Bancorp DE now owns 61,566 shares of the real estate investment trust's stock valued at $9,897,000 after purchasing an additional 2,224 shares during the period. Finally, InTrack Investment Management Inc lifted its position in Simon Property Group by 24.9% during the second quarter. InTrack Investment Management Inc now owns 6,868 shares of the real estate investment trust's stock valued at $1,104,000 after purchasing an additional 1,368 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Monday. Evercore ISI restated an "in-line" rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Truist Financial increased their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research report on Monday, August 25th. Weiss Ratings restated a "buy (b-)" rating on shares of Simon Property Group in a research report on Saturday, September 27th. Finally, Scotiabank increased their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group has an average rating of "Hold" and an average target price of $187.23.

Insider Activity

In other news, Director Glyn Aeppel acquired 208 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director directly owned 19,265 shares of the company's stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares in the company, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Down 1.9%

SPG opened at $175.39 on Friday. The company has a current ratio of 1.23, a quick 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 company has a market capitalization of $57.26 billion, a PE ratio of 27.11, a PEG ratio of 10.83 and a beta of 1.50. The firm's 50 day simple moving average is $178.12 and its two-hundred day simple moving average is $165.96.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was 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 132.92%.

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.

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