Jones Financial Companies Lllp Decreases Holdings in Simon Property Group, Inc. $SPG

Key Points

• Jones Financial Companies Lllp reduced its stake in Simon Property Group by 27.5%, owning 41,389 shares worth approximately $6.58 million after selling 15,671 shares.
• Simon Property Group announced a quarterly dividend increase to $2.15, representing a 4.8% yield, which will be distributed on September 30th.
• The company reported an EPS of $3.05 for the last quarter, exceeding analysts' expectations, with a revenue of $1.50 billion, a 13.9% increase year-over-year.

Jones Financial Companies Lllp lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,389 shares of the real estate investment trust's stock after selling 15,671 shares during the period. Jones Financial Companies Lllp's holdings in Simon Property Group were worth $6,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CKW Financial Group bought a new stake in Simon Property Group during the first quarter valued at $279,000. USS Investment Management Ltd boosted its holdings in Simon Property Group by 1.2% in the 1st quarter. USS Investment Management Ltd now owns 61,964 shares of the real estate investment trust's stock worth $10,292,000 after buying an additional 749 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Simon Property Group by 1.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 116,862 shares of the real estate investment trust's stock worth $19,408,000 after buying an additional 1,600 shares during the period. Resolution Capital Ltd boosted its holdings in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust's stock worth $298,873,000 after buying an additional 565,084 shares during the period. Finally, PharVision Advisers LLC bought a new position in Simon Property Group in the 1st quarter worth approximately $264,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of the stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan M. Selig purchased 219 shares of the stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $34,884.51. Following the transaction, the director directly owned 31,881 shares in the company, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,428 shares of company stock worth $387,271. Insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price 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. 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 target price on the stock. Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Finally, Scotiabank increased their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $184.54.

Simon Property Group Trading Down 0.7%

SPG stock traded down $1.23 during trading on Friday, hitting $182.68. The company had a trading volume of 1,547,320 shares, compared to its average volume of 1,638,808. The firm has a market capitalization of $59.64 billion, a P/E ratio of 28.23, a PEG ratio of 11.14 and a beta of 1.50. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a 50 day simple moving average of $170.73 and a 200-day simple moving average of $164.42. 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 (NYSE:SPG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The company'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. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend 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.