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

Key Points

• Pallas Capital Advisors LLC increased its stake in Simon Property Group by 199.5% in Q2, acquiring an additional 2,522 shares, bringing their total holdings to 3,786 shares worth approximately $609,000.
• Simon Property Group has increased its quarterly dividend from $2.10 to $2.15, reflecting a boost in annualized dividends to $8.60, with a yield of 4.8%.
• Analysts have set varying price targets for Simon Property Group's stock, with Piper Sandler raising their target from $200 to $210, while Barclays initiated coverage with a $170 target.

Pallas Capital Advisors LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 199.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,786 shares of the real estate investment trust's stock after buying an additional 2,522 shares during the period. Pallas Capital Advisors LLC's holdings in Simon Property Group were worth $609,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC grew its stake in shares of 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 purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. boosted 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 in the last quarter. Continuum Advisory LLC boosted its position 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 in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Simon Property Group by 77.2% in the first 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 last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Simon Property Group in the first quarter worth $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 522 shares of the company's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the transaction, the director owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry C. Glasscock purchased 396 shares of the company's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,428 shares of company stock worth $387,271. Corporate insiders own 8.66% of the company's stock.

Simon Property Group Stock Up 0.4%

NYSE SPG traded up $0.70 on Friday, hitting $180.79. 7,083,286 shares of the stock traded hands, compared to its average volume of 1,717,126. The stock has a 50-day moving average of $172.57 and a 200 day moving average of $164.18. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a market capitalization of $59.03 billion, a P/E ratio of 27.94, 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 (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for 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%.Simon Property Group's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior 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, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date 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 currently 132.92%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SPG shares. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Piper Sandler upped their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday. Scotiabank upped their target price on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Mizuho reduced their price target 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. Finally, Barclays began coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $186.46.

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.