PharVision Advisers LLC Takes Position in Simon Property Group, Inc. $SPG

Key Points

• PharVision Advisers LLC invested $264,000 in Simon Property Group, acquiring 1,588 shares of the real estate investment trust during the first quarter.
• Simon Property Group recently announced a quarterly dividend increase from $2.10 to $2.15, with a dividend yield of 4.7% and a payout ratio of 129.83%.
• The company's stock has shown positive performance, reporting a 12-month revenue increase of 13.9% and exceeding earnings expectations with $3.05 EPS for the last quarter.

PharVision Advisers LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,588 shares of the real estate investment trust's stock, valued at approximately $264,000.

Other large investors have also modified their holdings of the company. Park Square Financial Group LLC raised its position in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. increased 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 buying an additional 111 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of 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 worth $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC lifted its position in shares of Simon Property Group by 37.5% in the fourth 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 in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of 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 acquiring an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Simon Property Group news, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares of the company's stock, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,428 shares of company stock worth $387,271. Insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPG. Stifel Nicolaus downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Piper Sandler lowered their target price on shares of 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 assumed 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. Scotiabank raised their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Finally, Mizuho dropped their target price 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. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $184.92.

Simon Property Group Trading Down 1.7%

Shares of SPG traded down $3.14 during mid-day trading on Tuesday, reaching $179.41. The company had a trading volume of 1,860,381 shares, compared to its average volume of 1,583,466. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The firm has a fifty day simple moving average of $169.78 and a 200-day simple moving average of $164.33. The stock has a market cap of $58.58 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 11.05 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 issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $2.90 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Tuesday, September 9th will be issued 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 an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) 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.