Exchange Traded Concepts LLC Purchases 15,429 Shares of Simon Property Group, Inc. $SPG

Key Points

• Exchange Traded Concepts LLC increased its stake in Simon Property Group by 22.2%, acquiring an additional 15,429 shares to hold a total of 84,894 shares valued at $13.6 million.
• Simon Property Group's recent earnings report showed an EPS of $3.05, exceeding estimates, with revenue rising 13.9% year-over-year to $1.5 billion.
• The company declared a quarterly dividend of $2.15 per share, reflecting an increase from the previous dividend and providing a yield of 4.8%, with a payout ratio of 132.92%.

Exchange Traded Concepts LLC lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 84,894 shares of the real estate investment trust's stock after acquiring an additional 15,429 shares during the quarter. Exchange Traded Concepts LLC's holdings in Simon Property Group were worth $13,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC boosted its position in Simon Property Group by 108.0% during 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 buying an additional 81 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC boosted its holdings 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 acquiring an additional 156 shares during the period. AdvisorNet Financial Inc boosted its holdings 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 acquiring an additional 95 shares during the period. Finally, WPG Advisers LLC bought a new position in Simon Property Group during the 1st quarter worth approximately $47,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Down 0.6%

NYSE:SPG opened at $180.40 on Friday. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 PEG ratio of 10.99 and a beta of 1.50. The company's 50-day simple moving average is $172.19 and its 200 day simple moving average is $164.33.

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 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 business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $2.90 earnings per share. The company'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. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company 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 represents a $8.60 annualized dividend and a dividend yield of 4.8%. 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. Simon Property Group's payout ratio is 132.92%.

Insiders Place Their Bets

In other Simon Property Group news, Director Larry C. Glasscock purchased 396 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,428 shares of company stock worth $387,271 in the last three months. Corporate insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPG. Barclays started coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Piper Sandler increased their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price for the company. in a report on Tuesday, September 2nd. Finally, Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $186.46.

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.

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