Ieq Capital LLC Increases Holdings in Simon Property Group, Inc. $SPG

Key Points

• Ieq Capital LLC increased its holdings in Simon Property Group by 23.4%, acquiring an additional 4,286 shares during the first quarter, bringing its total to 22,599 shares valued at approximately $3.75 million.
• Insiders, including Director Glyn Aeppel, have recently purchased shares in the company, with a total of 2,428 shares worth about $387,271 acquired in the last ninety days, suggesting confidence in the company’s future.
• Simon Property Group declared a quarterly dividend of $2.15, an increase from the previous $2.10, resulting in an annualized payout of $8.60 and a dividend yield of 4.8% for shareholders.

Ieq Capital LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 23.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,599 shares of the real estate investment trust's stock after acquiring an additional 4,286 shares during the period. Ieq Capital LLC's holdings in Simon Property Group were worth $3,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPG. Brighton Jones LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $295,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $234,000. Keel Point LLC raised its position in shares of Simon Property Group by 5.7% during the 4th quarter. Keel Point LLC now owns 1,399 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 76 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Simon Property Group by 24.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 142,194 shares of the real estate investment trust's stock worth $24,487,000 after purchasing an additional 27,529 shares during the last quarter. Finally, DoubleLine ETF Adviser LP raised its position in shares of Simon Property Group by 0.3% during the 4th quarter. DoubleLine ETF Adviser LP now owns 21,970 shares of the real estate investment trust's stock worth $3,783,000 after purchasing an additional 75 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.9%

SPG stock traded up $1.59 during midday trading on Monday, hitting $180.95. The stock had a trading volume of 1,716,817 shares, compared to its average volume of 1,549,380. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company's 50-day moving average price is $167.37 and its 200 day moving average price is $164.38. The firm has a market cap of $59.08 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

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 net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company earned $2.90 EPS. The business's quarterly revenue 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. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 paid a dividend of $2.15 per share. 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%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is presently 129.83%.

Insider Activity at Simon Property Group

In related news, Director Stefan M. Selig acquired 219 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $34,884.51. Following the purchase, the director directly owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. This represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel acquired 234 shares of the 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 completion of the purchase, the director directly 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 three months, insiders bought 2,428 shares of company stock worth $387,271. 8.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPG. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday. Piper Sandler cut their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Barclays began coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Finally, LADENBURG THALM/SH SH started coverage on Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $184.91.

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.