Fort Washington Investment Advisors Inc. OH Boosts Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Fort Washington Investment Advisors increased its stake in Simon Property Group, Inc. by 1.1% in Q2, now owning approximately 192,295 shares valued at around $30.9 million.
• Simon Property Group reported $3.05 earnings per share, exceeding analysts' expectations, and achieved revenue growth of 13.9% year-over-year.
• The company raised its quarterly dividend to $2.15 per share, up from $2.10, providing shareholders with an annual yield of 4.6%.

Fort Washington Investment Advisors Inc. OH raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 192,295 shares of the real estate investment trust's stock after acquiring an additional 2,150 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.06% of Simon Property Group worth $30,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Great Lakes Advisors LLC grew its holdings in Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 68 shares during the last quarter. Wedmont Private Capital grew its holdings in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 68 shares during the last quarter. PFS Partners LLC grew its holdings in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock valued at $91,000 after buying an additional 68 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after buying an additional 70 shares during the last quarter. Finally, Aspiriant LLC grew its holdings in Simon Property Group by 1.3% during the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after buying an additional 74 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.5%

Shares of SPG opened at $185.29 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market capitalization of $60.50 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 11.23 and a beta of 1.50. The stock's fifty day simple moving average is $174.72 and its 200 day simple moving average is $164.71. 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 issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 4.6%. This is a boost 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 dividend payout ratio is 132.92%.

Analysts Set New Price Targets

A number of brokerages have commented on SPG. Scotiabank increased their target price on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Evercore ISI restated an "in-line" rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a report on Tuesday, September 2nd. Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Finally, Argus restated a "buy" rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $186.46.

Insider Buying and Selling

In related news, Director Daniel C. Smith acquired 378 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $60,211.62. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the business's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock valued at $387,271 over the last ninety days. Insiders own 8.66% of the company's stock.

Simon Property Group 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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