Focus Partners Wealth Grows Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Focus Partners Wealth increased its holdings in Simon Property Group, Inc. by 89.0%, now owning 114,156 shares valued at approximately $18.96 million.
• Simon Property Group recently announced a quarterly dividend of $2.15, increasing from the previous dividend of $2.10, representing a 4.7% dividend yield.
• Research analysts have varied opinions on the stock, with current average ratings showing five buy ratings and eight hold ratings, along with a consensus target price of $184.54.

Focus Partners Wealth lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 89.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,156 shares of the real estate investment trust's stock after purchasing an additional 53,764 shares during the period. Focus Partners Wealth's holdings in Simon Property Group were worth $18,959,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPG. Nuveen LLC purchased a new position in shares of Simon Property Group during the 1st quarter worth approximately $724,937,000. Principal Financial Group Inc. increased its stake in shares of Simon Property Group by 133.0% during the 1st 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 in the last quarter. Resolution Capital Ltd purchased a new position in shares of Simon Property Group during the 4th quarter worth approximately $212,592,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Simon Property Group during the 1st quarter worth approximately $197,377,000. Finally, GAMMA Investing LLC raised its stake in Simon Property Group by 16,346.0% in the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock valued at $145,608,000 after purchasing an additional 871,405 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Stifel Nicolaus cut 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 research note on Tuesday, September 2nd. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Finally, Morgan Stanley lifted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Simon Property Group currently has an average rating of "Hold" and a consensus target price of $184.54.

Simon Property Group Stock Up 2.7%

Shares of NYSE:SPG opened at $184.01 on Friday. The company has a market capitalization of $60.08 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 10.85 and a beta of 1.50. The company has a 50 day moving average of $170.41 and a two-hundred day moving average of $164.43. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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 firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. Simon Property Group'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 earnings per share 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. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. 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%. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 522 shares of the company's stock in a transaction on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the purchase, the director owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stefan M. Selig purchased 219 shares of the company's stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $34,884.51. Following the purchase, the director directly owned 31,881 shares of the company's stock, valued at $5,078,324.49. This trade represents a 0.69% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,428 shares of company stock valued at $387,271 in the last ninety days. Insiders own 8.66% of the company's stock.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

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.