Generali Asset Management SPA SGR Lowers Stake in Simon Property Group, Inc. $SPG

Key Points

• Generali Asset Management SPA SGR significantly reduced its stake in Simon Property Group, cutting its holdings by 93.8% during the second quarter, now owning only 392 shares valued at approximately $63,000.
• Simon Property Group recently reported a quarterly EPS of $3.05, slightly above consensus estimates, with revenue growing 13.9% year-over-year to $1.50 billion.
• The company increased its quarterly dividend to $2.15, reflecting a 4.8% dividend yield, while its dividend payout ratio stands at 132.92%.

Generali Asset Management SPA SGR reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 93.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 392 shares of the real estate investment trust's stock after selling 5,913 shares during the period. Generali Asset Management SPA SGR's holdings in Simon Property Group were worth $63,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock worth $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp grew its position in Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock worth $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. grew its position in Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock worth $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new position in Simon Property Group during the 1st quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its position in Simon Property Group by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock worth $608,086,000 after purchasing an additional 23,873 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 0.8%

Shares of NYSE SPG opened at $178.23 on Friday. 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. The firm has a 50-day moving average price of $179.20 and a 200 day moving average price of $166.31. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50.

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 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the business earned $2.90 earnings per share. The business'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. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group's dividend payout ratio (DPR) is 132.92%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted 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 report on Monday, October 6th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Truist Financial lifted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. Piper Sandler lifted their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Finally, Argus reaffirmed a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $187.31.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director directly owned 43,536 shares of the company's stock, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glyn Aeppel bought 208 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares of the company's stock, valued at $3,582,326.75. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,163 shares of company stock valued at $401,605. 8.66% of the stock is owned by company insiders.

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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