Simon Property Group, Inc. $SPG Position Boosted by 111 Capital

Key Points

• 111 Capital increased its holdings in Simon Property Group, Inc. by 83.6% in Q2, now owning 8,183 shares valued at approximately $1.31 million.
• Simon Property Group reported $3.05 EPS for the last quarter, exceeding estimates, and experienced a 13.9% increase in revenue year-over-year.
• The company announced a quarterly dividend increase to $2.15 per share, reflecting an annualized dividend yield of 4.6%.

111 Capital increased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 83.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,183 shares of the real estate investment trust's stock after buying an additional 3,726 shares during the quarter. 111 Capital's holdings in Simon Property Group were worth $1,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after buying an additional 267,503 shares in the last quarter. Northern Trust Corp boosted its stake 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock worth $805,853,000 after buying an additional 141,657 shares during the period. Nuveen LLC acquired a new position in Simon Property Group in the 1st quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Simon Property Group by 0.7% during the first 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 buying an additional 23,873 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 0.3%

Shares of Simon Property Group stock opened at $185.58 on Friday. 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 stock has a 50 day moving average price of $176.78 and a two-hundred day moving average price of $165.50. The stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a PEG ratio of 11.20 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought 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 owned 19,265 shares of the company's stock, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company's stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,163 shares of company stock worth $401,605 over the last 90 days. Company insiders own 8.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SPG shares. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research note on Monday, August 25th. Argus reissued a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Scotiabank boosted their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Finally, Evercore ISI reiterated an "in-line" rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $186.46.

Simon Property Group Profile

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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