Diversified Trust Co Has $3.34 Million Holdings in Simon Property Group, Inc. $SPG

Key Points

• Diversified Trust Co has reduced its stake in Simon Property Group, Inc. by 19.0% during the second quarter, holding shares valued at approximately $3.34 million.
• Institutional investors now own 93.01% of Simon Property Group's stock, indicating strong institutional confidence in the company.
• Simon Property Group has recently increased its quarterly dividend to $2.15 per share, representing an annualized yield of 4.8%.

Diversified Trust Co lowered its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,763 shares of the real estate investment trust's stock after selling 4,873 shares during the period. Diversified Trust Co's holdings in Simon Property Group were worth $3,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock worth $7,588,195,000 after buying an additional 267,503 shares during the last quarter. Northern Trust Corp lifted its position in shares of Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock worth $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock worth $805,853,000 after buying an additional 141,657 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Simon Property Group in the first quarter worth about $724,937,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Simon Property Group by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock worth $608,086,000 after buying an additional 23,873 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin purchased 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the transaction, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Glyn Aeppel purchased 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the transaction, the director owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 over the last 90 days. Company insiders own 8.66% of the company's stock.

Simon Property Group Trading Up 0.4%

SPG stock opened at $180.79 on Friday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The firm has a market cap of $59.03 billion, a P/E ratio of 27.94, a P/E/G ratio of 10.94 and a beta of 1.50. The business's 50 day moving average is $172.57 and its 200-day moving average is $164.18. 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 (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $2.90 EPS. The company's revenue 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. Equities analysts anticipate 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. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group's dividend payout ratio is currently 132.92%.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective for the company. in a research report on Tuesday, September 2nd. Evercore ISI reissued 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. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley boosted their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Finally, Truist Financial boosted their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research report on Monday, August 25th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $186.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.