CTC Alternative Strategies Ltd. Invests $598,000 in Simon Property Group, Inc. $SPG

Key Points

• CTC Alternative Strategies Ltd. invested approximately $598,000 in Simon Property Group by purchasing 3,600 shares during the first quarter.
• Simon Property Group recently declared a quarterly dividend increase to $2.15 per share, up from $2.10, resulting in an annualized dividend yield of 4.7%.
• Analysts have expressed mixed opinions on Simon Property Group, with five analysts rating it as a Buy and seven giving it a Hold, while the stock's average price target is $184.92.

CTC Alternative Strategies Ltd. bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,600 shares of the real estate investment trust's stock, valued at approximately $598,000.

Several other hedge funds also recently made changes to their positions in SPG. Park Square Financial Group LLC increased its holdings in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. increased 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 increased 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. AdvisorNet Financial Inc increased 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. Finally, WPG Advisers LLC bought a new position in Simon Property Group in the first quarter valued at approximately $47,000. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPG. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a research note on Tuesday, September 2nd. Argus reissued a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday. Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Barclays began 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 price objective on the stock. Finally, Truist Financial lifted 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 note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $184.92.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $182.05 on Monday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $59.44 billion, a P/E ratio of 28.14, a P/E/G ratio of 11.04 and a beta of 1.50. The company's 50 day moving average price is $169.04 and its two-hundred day moving average price is $164.23.

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

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is presently 129.83%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel C. Smith purchased 378 shares of the business's stock in a transaction dated 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 acquisition, the director owned 31,998 shares of the company's stock, valued at $5,096,961.42. This trade represents a 1.20% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,428 shares of company stock valued at $387,271 in the last quarter. Insiders own 8.60% of the company's stock.

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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