Kestra Advisory Services LLC Acquires 2,132 Shares of Simon Property Group, Inc. $SPG

Key Points

• Kestra Advisory Services LLC increased its holdings in Simon Property Group, Inc. by 10.2%, owning 22,985 shares valued at $3,817,000 as of the latest SEC filing.
• Simon Property Group recently announced a quarterly dividend increase from $2.10 to $2.15 per share, representing an annual yield of 4.9%.
• Simon Property Group reported a net margin of 36.78% and revenue growth of 13.9% compared to the same quarter last year, with earnings per share exceeding analyst estimates.

Kestra Advisory Services LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,985 shares of the real estate investment trust's stock after purchasing an additional 2,132 shares during the quarter. Kestra Advisory Services LLC's holdings in Simon Property Group were worth $3,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nuveen LLC bought a new position in Simon Property Group in the first quarter valued at about $724,937,000. Principal Financial Group Inc. grew its holdings in shares of Simon Property Group by 133.0% during 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. Northern Trust Corp grew its holdings in shares of Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd bought a new stake in shares of Simon Property Group during the fourth quarter worth about $212,592,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Simon Property Group during the first quarter worth about $197,377,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several research reports. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday. Piper Sandler reduced their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Mizuho reduced their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Barclays initiated coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $184.91.

Simon Property Group Trading Up 0.9%

SPG traded up $1.59 during trading on Friday, hitting $180.95. The company's stock had a trading volume of 1,716,817 shares, compared to its average volume of 1,571,027. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock's fifty day moving average price is $166.93 and its 200-day moving average price is $164.70. The firm has a market capitalization of $59.08 billion, a P/E ratio of 27.97, a PEG ratio of 10.86 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.8%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 129.83%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin bought 246 shares of the business's stock in a transaction on 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 purchase, the director owned 19,010 shares in the company, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 over the last quarter. Insiders own 8.66% of the company's stock.

Simon Property Group Company Profile

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.