Pensionfund DSM Netherlands Sells 5,200 Shares of Simon Property Group, Inc. $SPG

Key Points

• Pensionfund DSM Netherlands has reduced its stake in Simon Property Group, Inc. by 11.6%, now holding 39,508 shares, valued at approximately $6.56 million.
• Simon Property Group recently reported $3.05 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 13.9% year-over-year.
• The company announced a quarterly dividend increase to $2.15 per share, reflecting a dividend yield of 4.7%, with the payout ratio currently at 132.92%.

Pensionfund DSM Netherlands cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,508 shares of the real estate investment trust's stock after selling 5,200 shares during the quarter. Simon Property Group comprises 4.3% of Pensionfund DSM Netherlands' portfolio, making the stock its 5th biggest holding. Pensionfund DSM Netherlands' holdings in Simon Property Group were worth $6,561,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings 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 worth $7,588,195,000 after acquiring an additional 267,503 shares during the last quarter. Northern Trust Corp increased its holdings 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 worth $923,236,000 after acquiring an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $805,853,000 after acquiring an additional 141,657 shares during the last quarter. Nuveen LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 0.7% in 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 purchasing an additional 23,873 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

NYSE:SPG opened at $182.68 on Friday. The stock has a fifty day moving average price of $170.73 and a 200-day moving average price of $164.42. The company has a market cap of $59.64 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 11.14 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. 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 released 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal 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. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the transaction, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry C. Glasscock acquired 396 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares in the company, valued at $6,878,938.65. The trade was a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 over the last quarter. 8.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent research reports. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. 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 research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price target 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. Finally, Argus restated a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $184.54.

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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.