Park Avenue Securities LLC Purchases Shares of 17,603 Simon Property Group, Inc. $SPG

Key Points

• Park Avenue Securities LLC acquired a new stake in Simon Property Group by purchasing 17,603 shares valued at approximately $2.83 million during the 2nd quarter.
• Simon Property Group increased its quarterly dividend to $2.15 per share, up from $2.10, representing an annualized yield of 4.7%.
• Analyst ratings show a mixed sentiment, with four analysts rating the stock as a buy and nine as hold, with an average price target of $186.46.

Park Avenue Securities LLC purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 17,603 shares of the real estate investment trust's stock, valued at approximately $2,830,000.

Several other institutional investors have also modified their holdings of SPG. Brighton Jones LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $295,000. Toronto Dominion Bank lifted its stake in shares of Simon Property Group by 7.0% in the 4th quarter. Toronto Dominion Bank now owns 166,671 shares of the real estate investment trust's stock valued at $28,702,000 after purchasing an additional 10,966 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Simon Property Group by 17.3% in the 4th quarter. Ascent Group LLC now owns 2,677 shares of the real estate investment trust's stock valued at $461,000 after purchasing an additional 395 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $94,746,000. Finally, Phocas Financial Corp. bought a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $466,000. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz purchased 522 shares of the business'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 acquisition, the director owned 58,195 shares of the company's stock, valued at $9,269,881.55. The trade was a 0.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock purchased 396 shares of the business's stock in a transaction dated 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 acquisition, 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. Insiders purchased a total of 2,428 shares of company stock worth $387,271 over the last quarter. Insiders own 8.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Argus reaffirmed a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. JPMorgan Chase & Co. raised their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Evercore ISI reissued an "in-line" rating and set a $187.00 price target (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Barclays assumed coverage on Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target for the company. Finally, Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target for the company. in a research note on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $186.46.

Simon Property Group Trading Up 1.7%

Shares of NYSE SPG opened at $184.16 on Wednesday. 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 business has a fifty day simple moving average of $173.43 and a two-hundred day simple moving average of $164.32. The firm has a market cap of $60.13 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 10.97 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month 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 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates 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 was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 4.7%. Simon Property Group's dividend payout ratio is presently 132.92%.

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.

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