Simon Property Group, Inc. $SPG Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its holdings in Simon Property Group by 20.1% during Q1, owning a total of 49,743 shares worth approximately $8.26 million.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, up from the previous $2.10, representing a 4.8% yield.
• Analysts have mixed ratings on Simon Property Group, with a consensus average rating of "Hold" and an average price target of $184.92 per share.

Empowered Funds LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,743 shares of the real estate investment trust's stock after acquiring an additional 8,341 shares during the period. Empowered Funds LLC's holdings in Simon Property Group were worth $8,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. increased its position in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC increased its position in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares during the period. AdvisorNet Financial Inc increased its position in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 95 shares during the period. Finally, WPG Advisers LLC purchased a new position in Simon Property Group during the 1st quarter valued at about $47,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

SPG stock traded down $1.23 during trading on Friday, reaching $182.68. The company had a trading volume of 1,547,320 shares, compared to its average volume of 1,638,808. The firm has a 50-day simple moving average of $170.73 and a 200-day simple moving average of $164.42. The company has a market cap of $59.64 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 11.14 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations 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 for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the business earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts expect 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 is an increase from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. Simon Property Group's payout ratio is currently 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 522 shares of the company's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the acquisition, the director directly owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Over the last three months, insiders bought 2,428 shares of company stock worth $387,271. Company insiders own 8.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SPG shares. Morgan Stanley raised their target price 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 Thursday. Mizuho reduced their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Barclays initiated coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $184.54.

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.