IFM Investors Pty Ltd Cuts Holdings in Simon Property Group, Inc. $SPG

Key Points

• IFM Investors Pty Ltd reduced its holdings in Simon Property Group by 7.8%, selling 9,626 shares and bringing their total ownership to 114,083 shares, valued at approximately $18.34 million.
• Simon Property Group reported $3.05 EPS for its latest quarter, exceeding estimates, with a revenue increase of 13.9% year-over-year, amounting to $1.50 billion.
• The company announced a quarterly dividend increase to $2.15 per share, reflecting an annualized yield of 4.8%, set to be paid to investors on September 30th.

IFM Investors Pty Ltd trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,083 shares of the real estate investment trust's stock after selling 9,626 shares during the period. IFM Investors Pty Ltd's holdings in Simon Property Group were worth $18,340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. Nuveen LLC bought a new position in shares of Simon Property Group during the 1st quarter valued at $724,937,000. Principal Financial Group Inc. lifted its stake in Simon Property Group by 133.0% in the first 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $197,377,000. GAMMA Investing LLC raised its stake in shares of Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock valued at $145,608,000 after acquiring an additional 871,405 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Simon Property Group by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust's stock valued at $494,267,000 after buying an additional 604,016 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of SPG opened at $180.40 on Friday. The firm's fifty day simple moving average is $172.19 and its 200-day simple moving average is $164.33. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. 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 $58.90 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 10.99 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $2.90 EPS. 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. Equities analysts forecast 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Piper Sandler upped their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday. Argus reiterated a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Stifel Nicolaus downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $186.46.

Insider Activity at Simon Property Group

In other news, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Larry C. Glasscock bought 396 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,428 shares of company stock valued at $387,271 in the last quarter. 8.66% of the stock is owned by corporate insiders.

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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