MBB Public Markets I LLC Takes $303,000 Position in Simon Property Group, Inc. $SPG

Key Points

• MBB Public Markets I LLC has acquired a new stake in Simon Property Group, purchasing 1,826 shares valued at approximately $303,000.
• Simon Property Group reported earnings per share of $3.05 for the last quarter, surpassing analysts’ expectations, resulting in a year-over-year revenue increase of 13.9%.
• The company has announced a quarterly dividend increase to $2.15 per share, representing an annualized yield of 4.8% and a payout ratio of 132.92%.

MBB Public Markets I LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,826 shares of the real estate investment trust's stock, valued at approximately $303,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp lifted its holdings in Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock valued at $923,236,000 after buying an additional 96,126 shares during the period. JPMorgan Chase & Co. lifted its holdings in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock valued at $805,853,000 after buying an additional 141,657 shares during the period. Nuveen LLC acquired a new position in Simon Property Group in the first quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Simon Property Group by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock valued at $608,086,000 after buying an additional 23,873 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $179.40 on Thursday. 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 company has a 50-day simple moving average of $170.05 and a two-hundred day simple moving average of $164.43. The stock has a market capitalization of $58.57 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 10.86 and a beta of 1.50.

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 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. The business had revenue of $1.50 billion during 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 was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's payout ratio is presently 132.92%.

Insider Activity

In other news, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The shares were bought at an average cost 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,428 shares of company stock worth $387,271. Company insiders own 8.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SPG shares. Piper Sandler cut their price objective 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. Scotiabank increased their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Barclays initiated coverage on shares of 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. Stifel Nicolaus downgraded 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 research report on Tuesday, September 2nd. Finally, Truist Financial increased their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average target price of $184.92.

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.

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