Perpetual Ltd Sells 1,820 Shares of Simon Property Group, Inc. $SPG

Key Points

• Perpetual Ltd has reduced its stake in Simon Property Group by 16.7%, now holding 9,090 shares, valued at $1,461,000.
• Despite this, other institutional investors are increasing their investments in Simon Property Group, with 93.01% of shares now owned by institutional investors overall.
• Simon Property Group has recently increased its quarterly dividend to $2.15 per share, reflecting an annualized dividend of $8.60 and a dividend yield of 4.8%.

Perpetual Ltd lessened its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,090 shares of the real estate investment trust's stock after selling 1,820 shares during the quarter. Perpetual Ltd's holdings in Simon Property Group were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Park Square Financial Group LLC increased its position in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares during the last quarter. Richardson Financial Services Inc. boosted its stake 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 valued at $28,000 after buying an additional 111 shares during the period. Continuum Advisory LLC boosted its stake 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 valued at $32,000 after buying an additional 156 shares during the period. AdvisorNet Financial Inc boosted its stake in Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 95 shares during the period. Finally, WPG Advisers LLC bought a new stake in Simon Property Group during the first quarter worth about $47,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $2.23 during midday trading on Tuesday, hitting $183.37. 527,923 shares of the stock traded hands, compared to its average volume of 1,664,642. The firm has a 50-day moving average of $172.94 and a two-hundred day moving average of $164.18. The firm has a market capitalization of $59.87 billion, a P/E ratio of 28.34, a PEG ratio of 10.94 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 one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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%.The company's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.7%. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director directly owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel acquired 234 shares of Simon Property Group stock in a transaction dated 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 completion of the purchase, the director directly owned 19,057 shares in the company, 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. Insiders bought a total of 2,428 shares of company stock worth $387,271 over the last three months. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPG. Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Scotiabank boosted their target price 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. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Finally, Truist Financial boosted their target price 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. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $186.46.

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.