Czech National Bank Increases Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• The Czech National Bank increased its holdings in Simon Property Group by 6.5%, acquiring an additional 4,558 shares to reach a total of 75,000 shares, valued at over $12 million.
• Insider transactions revealed that directors Reuben S. Leibowitz and Glyn Aeppel purchased shares on June 30th, increasing their respective ownership stakes in the company.
• The company announced a quarterly dividend increase to $2.15 per share, with the dividend yield now at 4.7%, and a payout ratio of 132.92%.

Czech National Bank raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,000 shares of the real estate investment trust's stock after purchasing an additional 4,558 shares during the period. Czech National Bank's holdings in Simon Property Group were worth $12,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Simon Property Group in the 1st quarter worth approximately $724,937,000. Principal Financial Group Inc. raised its holdings in shares of Simon Property Group by 133.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after acquiring an additional 1,830,264 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Simon Property Group during the 1st quarter worth $197,377,000. GAMMA Investing LLC raised its holdings in shares of Simon Property Group by 16,346.0% during the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after acquiring an additional 871,405 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Simon Property Group by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust's stock worth $494,267,000 after acquiring an additional 604,016 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Down 0.6%

Shares of SPG stock traded down $1.16 on Thursday, hitting $180.40. The stock had a trading volume of 1,898,561 shares, compared to its average volume of 1,662,743. 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 $58.90 billion, a P/E ratio of 27.88, a P/E/G ratio of 10.99 and a beta of 1.50. The company's 50 day moving average price is $172.19 and its 200-day moving average price is $164.33. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm earned $2.90 earnings per share. The business's revenue for the quarter 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. Analysts anticipate 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 disclosed 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 is Tuesday, September 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPG shares. Evercore ISI reaffirmed an "in-line" rating and set a $187.00 target price (up from $183.00) on shares of Simon Property Group in a research note on Monday. Barclays initiated 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 target on the stock. Argus restated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Morgan Stanley lifted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Finally, Stifel Nicolaus lowered 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 report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $186.46.

Insider Buying and Selling

In related news, Director Gary M. Rodkin purchased 246 shares of the company's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the transaction, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock valued at $387,271 over the last three months. 8.66% of the stock is currently 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.