Diversified Trust Co Sells 10,404 Shares of Simon Property Group, Inc. $SPG

Key Points

• Diversified Trust Co sharply reduced its Simon Property Group stake, selling 10,404 shares in the first quarter and cutting its holdings by 80.8% to 2,467 shares worth about $460,000.
• Simon Property Group posted stronger-than-expected quarterly results, with EPS of $1.48 beating estimates and revenue rising 19.3% year over year to $1.76 billion.
• The company also raised its quarterly dividend to $2.25 per share, while analysts largely remain cautious with a consensus rating of “Hold” and an average price target of $209.71.

Diversified Trust Co cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 80.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,467 shares of the real estate investment trust's stock after selling 10,404 shares during the quarter. Diversified Trust Co's holdings in Simon Property Group were worth $460,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SPG. Vanguard Group Inc. increased its position in Simon Property Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust's stock worth $8,694,610,000 after acquiring an additional 286,464 shares during the period. State Street Corp raised its stake in Simon Property Group by 1.5% during the 3rd quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust's stock valued at $4,084,730,000 after purchasing an additional 312,995 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Simon Property Group by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust's stock valued at $1,950,967,000 after purchasing an additional 363,337 shares during the period. Capital World Investors boosted its holdings in Simon Property Group by 2.7% in the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust's stock valued at $1,593,872,000 after purchasing an additional 226,271 shares during the period. Finally, Wellington Management Group LLP grew its position in Simon Property Group by 7.7% in the 4th quarter. Wellington Management Group LLP now owns 7,939,861 shares of the real estate investment trust's stock worth $1,469,748,000 after purchasing an additional 569,772 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 1.3%

Shares of Simon Property Group stock opened at $225.10 on Friday. The firm has a market capitalization of $73.00 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 4.01 and a beta of 1.31. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The company's fifty day moving average price is $206.72 and its two-hundred day moving average price is $195.81. Simon Property Group, Inc. has a 52-week low of $157.59 and a 52-week high of $226.44.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. On average, analysts expect that Simon Property Group, Inc. will post 13.21 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.0%. This is a boost from Simon Property Group's previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Tuesday, June 9th. Simon Property Group's dividend payout ratio (DPR) is currently 62.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPG shares. Scotiabank boosted their price objective on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Stifel Nicolaus increased their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Barclays lifted their target price on Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday. Weiss Ratings upgraded Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 15th. Finally, Truist Financial upped their price target on Simon Property Group from $196.00 to $215.00 and gave the company a "hold" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $209.71.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon's portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.

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