J. Safra Sarasin Holding AG Sells 5,840 Shares of Simon Property Group, Inc. $SPG

Key Points

• J. Safra Sarasin Holding AG reduced its position in Simon Property Group by 61.6%, selling 5,840 shares to hold 3,643 shares worth approximately $586,000 at the end of the second quarter.
• The company declared a quarterly dividend of $2.15 per share, marking an increase from the previous $2.10 dividend, with an annualized yield of 4.6%.
• Simon Property Group received various analyst ratings, with a consensus price target of $186.46 and a mix of buy and hold ratings from analysts.

J. Safra Sarasin Holding AG decreased its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 61.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,643 shares of the real estate investment trust's stock after selling 5,840 shares during the period. J. Safra Sarasin Holding AG's holdings in Simon Property Group were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC boosted its stake in Simon Property Group by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital boosted its stake in Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC boosted its stake in Simon Property Group by 13.6% in the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after purchasing an additional 70 shares in the last quarter. Finally, Aspiriant LLC boosted its stake in Simon Property Group by 1.3% in the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director directly owned 19,265 shares of the company's stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stefan M. Selig purchased 195 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $36,260.25. Following the transaction, the director directly owned 32,076 shares in the company, valued at approximately $5,964,532.20. The trade was a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,163 shares of company stock worth $401,605. Company insiders own 8.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPG shares. Evercore ISI reiterated an "in-line" rating and issued a $187.00 price target (up previously from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Barclays started coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Argus restated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $186.46.

Simon Property Group Price Performance

SPG opened at $185.58 on Friday. 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 stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.22 and a beta of 1.50. The company's 50-day simple moving average is $176.78 and its two-hundred day simple moving average is $165.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results 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. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is currently 132.92%.

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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