Mubadala Investment Co PJSC Acquires New Stake in Simon Property Group, Inc. $SPG

Key Points

• Mubadala Investment Co PJSC has established a new stake in Simon Property Group, acquiring 22,298 shares valued at approximately $3.7 million, making it the fund's 24th largest holding.
• Directors Gary M. Rodkin and Reuben S. Leibowitz both increased their ownership in Simon Property Group by purchasing shares at $159.29, signaling confidence in the company's future performance.
• Simon Property Group declared a quarterly dividend of $2.15 per share, up from $2.10, representing a 4.8% dividend yield with a payout ratio of 129.83%.

Mubadala Investment Co PJSC bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 22,298 shares of the real estate investment trust's stock, valued at approximately $3,703,000. Simon Property Group comprises approximately 0.0% of Mubadala Investment Co PJSC's portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 789 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC purchased a new stake in Simon Property Group in the 4th quarter worth approximately $295,000. J.W. Cole Advisors Inc. purchased a new stake in Simon Property Group in the 1st quarter worth approximately $895,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock worth $9,415,000 after buying an additional 4,589 shares during the period. Institutional investors own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% 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. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Up 0.9%

Shares of SPG traded up $1.59 on Monday, reaching $180.95. The stock had a trading volume of 1,716,817 shares, compared to its average volume of 1,549,380. The firm has a market capitalization of $59.08 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50-day simple moving average of $167.37 and a 200-day simple moving average of $164.38. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. 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. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group's dividend payout ratio is 129.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SPG shares. Mizuho dropped their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Scotiabank increased their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $184.91.

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.