EP Wealth Advisors LLC Sells 2,680 Shares of Simon Property Group, Inc. $SPG

Key Points

• EP Wealth Advisors LLC reduced its stake in Simon Property Group by 61.1%, selling 2,680 shares, and now holds 1,708 shares valued at approximately $284,000.
• Simon Property Group's quarterly dividend increased from $2.10 to $2.15, resulting in an annualized dividend of $8.60 and a yield of 4.7%.
• Analysts have varied ratings on Simon Property Group, with an average target price of $184.92, indicating a general sentiment of "Hold" but also highlighting several "Buy" ratings.

EP Wealth Advisors LLC cut its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 61.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,708 shares of the real estate investment trust's stock after selling 2,680 shares during the quarter. EP Wealth Advisors LLC's holdings in Simon Property Group were worth $284,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPG. Nuveen LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at $724,937,000. Principal Financial Group Inc. lifted its position in Simon Property Group by 133.0% during the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after purchasing an additional 1,830,264 shares during the period. Resolution Capital Ltd bought a new stake in Simon Property Group during the fourth quarter worth about $212,592,000. Massachusetts Financial Services Co. MA bought a new stake in Simon Property Group during the first quarter worth about $197,377,000. Finally, GAMMA Investing LLC lifted its position in Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after purchasing an additional 871,405 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent analyst reports. Argus reissued a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday. 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. Stifel Nicolaus downgraded 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. JPMorgan Chase & Co. upped 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. Finally, Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $184.92.

Simon Property Group Price Performance

Shares of SPG opened at $182.62 on Tuesday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The business has a 50-day simple moving average of $169.48 and a two-hundred day simple moving average of $164.22. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market cap of $59.62 billion, a PE ratio of 28.23, a PEG ratio of 11.04 and a beta of 1.50.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. The firm'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. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is currently 129.83%.

Insider Buying and Selling

In other news, Director Glyn Aeppel acquired 234 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the purchase, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel C. Smith acquired 378 shares of the stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $60,211.62. Following the purchase, the director directly owned 31,998 shares of the company's stock, valued at $5,096,961.42. This trade represents a 1.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,428 shares of company stock valued at $387,271 over the last three months. Insiders own 8.60% of the company's stock.

Simon Property Group Company 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.

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