Northwestern Mutual Wealth Management Co. Decreases Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Northwestern Mutual Wealth Management Co. reduced its stake in Simon Property Group, Inc. by 12% after selling 4,824 shares, bringing its total ownership to 35,511 shares valued at approximately $5.9 million.
• Recent developments indicate that Simon Property Group increased its quarterly dividend from $2.10 to $2.15 per share, representing an annual yield of 4.8%.
• Research analysts have mixed opinions on SPG, with a consensus rating of "Hold" and a target price averaging around $184.

Northwestern Mutual Wealth Management Co. lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,511 shares of the real estate investment trust's stock after selling 4,824 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Simon Property Group were worth $5,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SPG. Park Square Financial Group LLC grew its position in Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. boosted its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC boosted its stake in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC grew its position in shares of 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 valued at $36,000 after acquiring an additional 57 shares during the period. Finally, AdvisorNet Financial Inc grew its stake in shares of Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 95 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank raised their price target 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. Piper Sandler dropped their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $184.91.

Insider Buying and Selling

In other news, Director Stefan M. Selig bought 219 shares of the company's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $34,884.51. Following the completion of the transaction, the director owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glyn Aeppel bought 234 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 in the last three months. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Up 0.9%

Simon Property Group stock traded up $1.59 on Monday, hitting $180.95. 1,716,817 shares of the stock traded hands, compared to its average volume of 1,549,380. The firm has a market cap of $59.08 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The business's fifty day simple moving average is $166.93 and its 200 day simple moving average is $164.41.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly 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 previous year, the firm earned $2.90 EPS. Simon Property Group'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, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm 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 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 payout ratio is 129.83%.

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.