Lansforsakringar Fondforvaltning AB publ Sells 1,938 Shares of Simon Property Group, Inc. $SPG

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its holdings in Simon Property Group, Inc. by 1.8% in the first quarter, bringing its ownership to 106,825 shares valued at approximately $17.74 million.
• Simon Property Group reported a quarterly earnings per share of $3.05, slightly above analysts' expectations, with a revenue increase of 13.9% year-over-year.
• The company recently declared an increase in its quarterly dividend from $2.10 to $2.15 per share, reflecting a 4.8% dividend yield and a payout ratio of 129.83%.

Lansforsakringar Fondforvaltning AB publ lowered its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,825 shares of the real estate investment trust's stock after selling 1,938 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Simon Property Group were worth $17,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SPG. Park Square Financial Group LLC raised its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the period. Richardson Financial Services Inc. lifted its position in Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 156 shares during the last quarter. Colonial Trust Co SC increased its position in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in shares of Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Up 0.9%

SPG traded up $1.59 during midday trading on Monday, reaching $180.95. 1,716,817 shares of the company's stock traded hands, compared to its average volume of 1,549,380. The stock has a market capitalization of $59.08 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 10.94 and a beta of 1.50. The firm has a fifty day moving average of $166.93 and a two-hundred day moving average of $164.41. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (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 analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The business's 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. On average, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis 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 (DPR) is 129.83%.

Insiders Place Their Bets

In other Simon Property Group news, Director Glyn Aeppel acquired 234 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. The trade was a 1.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry C. Glasscock purchased 396 shares of the firm'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 $63,078.84. Following the purchase, the director directly owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,428 shares of company stock valued at $387,271. 8.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent analyst reports. Scotiabank boosted 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 report on Thursday. Barclays assumed coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 target price for the company. Finally, Stifel Nicolaus set a $179.00 target price on Simon Property Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $184.91.

Simon Property Group 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.