386,346 Shares in Simon Property Group, Inc. $SPG Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC purchased 386,346 shares of Simon Property Group, Inc., valued at approximately $60.85 million, bringing their total ownership to about 0.12% of the company.
• Simon Property Group has increased its quarterly dividend to $2.15 per share, up from $2.10, representing an annualized payout of $8.60 and a dividend yield of 4.8%.
• The company's stock has seen a price increase of 0.4%, with a current market cap of $59.03 billion and a P/E ratio of 27.94.

Kingstone Capital Partners Texas LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 386,346 shares of the real estate investment trust's stock, valued at approximately $60,849,000. Kingstone Capital Partners Texas LLC owned about 0.12% of Simon Property Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SPG. Exchange Traded Concepts LLC increased its holdings in Simon Property Group by 22.2% during the 2nd quarter. Exchange Traded Concepts LLC now owns 84,894 shares of the real estate investment trust's stock valued at $13,648,000 after purchasing an additional 15,429 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of Simon Property Group in the second quarter valued at approximately $906,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Simon Property Group by 23.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,923 shares of the real estate investment trust's stock valued at $5,323,000 after purchasing an additional 6,069 shares during the last quarter. Strathmore Capital Advisors Inc. bought a new stake in Simon Property Group during the second quarter worth $687,000. Finally, Wedmont Private Capital lifted its stake in shares of 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 valued at $1,147,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Activity

In other Simon Property Group news, Director Larry C. Glasscock purchased 396 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. The trade was a 0.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired 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 bought a total of 2,428 shares of company stock valued at $387,271 over the last quarter. Insiders own 8.66% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $0.70 during midday trading on Friday, hitting $180.79. 7,083,286 shares of the company's stock were exchanged, compared to its average volume of 1,717,126. The firm has a market capitalization of $59.03 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 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 company's 50 day moving average price is $172.57 and its 200 day moving average price is $164.18.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $2.90 earnings per share. 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, 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 firm also recently announced 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 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. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is 132.92%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI reissued an "in-line" rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Stifel Nicolaus lowered 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. Mizuho dropped their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Piper Sandler increased their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, LADENBURG THALM/SH SH initiated 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 objective for the company. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $186.46.

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.