GKV Capital Management Co. Inc. Has $2.41 Million Position in Simon Property Group, Inc. $SPG

Key Points

• GKV Capital Management Co. Inc. increased its holdings in Simon Property Group, Inc. by 29.8% in the first quarter, now owning 14,500 shares valued at approximately $2.41 million.
• Simon Property Group recently announced a quarterly dividend increase from $2.10 to $2.15 per share, representing an annualized payout of $8.60 and a dividend yield of 4.8%.
• As of the latest reporting, institutional investors hold 93.01% of Simon Property Group's shares, indicating strong institutional interest in the company.

GKV Capital Management Co. Inc. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the real estate investment trust's stock after buying an additional 3,330 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in Simon Property Group were worth $2,408,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC raised its holdings in Simon Property Group by 108.0% in the 1st 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 last quarter. Richardson Financial Services Inc. raised its holdings in 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 buying an additional 111 shares during the last quarter. Continuum Advisory LLC raised its holdings in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 156 shares during the last quarter. Colonial Trust Co SC raised its holdings in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 95 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

SPG has been the subject of a number of research reports. Mizuho dropped their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective for the company. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. Truist Financial increased their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research report on Monday. Finally, Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $184.91.

Insider Activity at Simon Property Group

In related news, Director Gary M. Rodkin acquired 246 shares of Simon Property Group 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 $39,185.34. Following the transaction, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,428 shares of company stock worth $387,271. Corporate insiders own 8.66% of the company's stock.

Simon Property Group Stock Up 0.7%

Shares of NYSE SPG opened at $179.43 on Friday. The company has a market capitalization of $58.58 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 10.79 and a beta of 1.48. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company's 50 day moving average price is $166.46 and its 200-day moving average price is $164.72.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities 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. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. Simon Property Group's payout ratio is 129.83%.

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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