Praxis Investment Management Inc. Has $1.18 Million Position in Simon Property Group, Inc. $SPG

Key Points

• Praxis Investment Management Inc. reduced its position in Simon Property Group by 28.8% in Q2, owning 7,319 shares valued at $1.18 million after selling 2,960 shares during the quarter.
• Simon Property Group reported a net margin of 36.78% and a return on equity of 72.38% for the last quarter, with a year-over-year revenue increase of 13.9%.
• The firm recently increased its quarterly dividend from $2.10 to $2.15 per share, resulting in an annual yield of 4.8%.

Praxis Investment Management Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 28.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,319 shares of the real estate investment trust's stock after selling 2,960 shares during the quarter. Praxis Investment Management Inc.'s holdings in Simon Property Group were worth $1,177,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SPG. Brighton Jones LLC acquired a new stake in Simon Property Group during the 4th quarter valued at $295,000. Wealth Enhancement Advisory Services LLC raised its stake in Simon Property Group by 9.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust's stock valued at $4,294,000 after purchasing an additional 2,194 shares during the period. Janney Montgomery Scott LLC raised its stake in Simon Property Group by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 70,286 shares of the real estate investment trust's stock valued at $11,673,000 after purchasing an additional 1,296 shares during the period. Global X Japan Co. Ltd. raised its stake in Simon Property Group by 24.9% during the 1st quarter. Global X Japan Co. Ltd. now owns 818 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 163 shares during the period. Finally, Blue Trust Inc. raised its stake in Simon Property Group by 28.3% during the 1st quarter. Blue Trust Inc. now owns 1,643 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 362 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.8%

Simon Property Group stock opened at $178.23 on Friday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $58.19 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 12.96 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company's fifty day moving average price is $179.20 and its two-hundred day moving average price is $166.34.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company's stock, valued at $3,582,326.75. This represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company's stock, valued at approximately $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. upped their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Simon Property Group in a research note on Tuesday. Evercore ISI upped their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an "in-line" rating in a research note on Friday. Finally, Scotiabank upped their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Simon Property Group has an average rating of "Hold" and an average target price of $187.31.

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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