Simon Property Group, Inc. $SPG Shares Bought by Nixon Capital LLC

Key Points

• Nixon Capital LLC has increased its holdings in Simon Property Group, Inc. by 5.1% during the 1st quarter, owning a total of 62,568 shares worth approximately $10.39 million.
• Several institutional investors, including Park Square Financial Group and Richardson Financial Services, significantly boosted their stakes in Simon Property Group, with overall hedge fund ownership currently at 93.01%.
• Simon Property Group announced a quarterly dividend of $2.15, reflecting an increase from its previous dividend, and the stock currently has a yield of 4.7%.

Nixon Capital LLC increased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,568 shares of the real estate investment trust's stock after buying an additional 3,032 shares during the quarter. Simon Property Group comprises approximately 3.6% of Nixon Capital LLC's portfolio, making the stock its 16th largest position. Nixon Capital LLC's holdings in Simon Property Group were worth $10,391,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Simon Property Group by 0.6% during the 1st 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 buying an additional 267,503 shares during the period. Northern Trust Corp raised its position in shares of Simon Property Group by 1.8% during the 1st 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. raised its position in shares of Simon Property Group by 3.0% during the 1st 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 purchased a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Simon Property Group by 0.7% during the 1st 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. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 0.3%

Shares of NYSE:SPG traded up $0.53 during trading on Friday, hitting $182.05. The company's stock had a trading volume of 1,829,523 shares, compared to its average volume of 1,524,552. 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 business has a 50 day moving average price of $169.04 and a two-hundred day moving average price of $164.23. The company has a market capitalization of $59.44 billion, a PE ratio of 28.14, a P/E/G ratio of 11.04 and a beta of 1.50. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

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 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company's revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 is an increase from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. Simon Property Group's payout ratio is presently 129.83%.

Insider Activity

In related news, Director Larry C. Glasscock acquired 396 shares of the firm's stock in a transaction on Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel acquired 234 shares of the firm'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 $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,428 shares of company stock valued at $387,271. Insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SPG shares. Barclays began coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. JPMorgan Chase & Co. raised 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. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Scotiabank lifted their target price on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research report on Thursday, August 28th. Finally, Truist Financial boosted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.