Simon Property Group, Inc. $SPG Shares Sold by Uniplan Investment Counsel Inc.

Key Points

• Uniplan Investment Counsel Inc. reduced its position in Simon Property Group shares by 6%, now holding approximately 238,921 shares valued at $39.68 million.
• Simon Property Group reported a 13.9% increase in year-over-year revenue, earning $3.05 EPS for the last quarter, exceeding estimates by $0.01.
• The company announced a quarterly dividend of $2.15 per share, marking an increase from the previous dividend, with a yield of 4.7%.

Uniplan Investment Counsel Inc. decreased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 238,921 shares of the real estate investment trust's stock after selling 15,384 shares during the quarter. Simon Property Group accounts for about 3.9% of Uniplan Investment Counsel Inc.'s investment portfolio, making the stock its 4th largest position. Uniplan Investment Counsel Inc. owned approximately 0.07% of Simon Property Group worth $39,680,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $724,937,000. Principal Financial Group Inc. increased its stake in Simon Property Group by 133.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after purchasing an additional 1,830,264 shares in the last quarter. Resolution Capital Ltd acquired a new stake in Simon Property Group during the 4th quarter worth about $212,592,000. Massachusetts Financial Services Co. MA acquired a new stake in Simon Property Group during the 1st quarter worth about $197,377,000. Finally, GAMMA Investing LLC lifted its stake in Simon Property Group by 16,346.0% during the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock valued at $145,608,000 after buying an additional 871,405 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPG shares. Argus reissued a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research report on Friday. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective on the stock. Stifel Nicolaus downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a research note on Tuesday, September 2nd. Truist Financial increased their target price on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. Finally, Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $184.92.

Simon Property Group Stock Performance

Simon Property Group stock traded down $3.14 on Tuesday, reaching $179.41. 1,860,381 shares of the stock were exchanged, compared to its average volume of 1,583,466. 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, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The firm has a fifty day moving average price of $169.78 and a two-hundred day moving average price of $164.33. The stock has a market cap of $58.58 billion, a PE ratio of 27.73, a PEG ratio of 11.05 and a beta of 1.50.

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 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $2.90 earnings per share. The firm's revenue for the quarter 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. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared 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%. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio is presently 132.92%.

Insider Buying and Selling

In other Simon Property Group news, Director Stefan M. Selig acquired 219 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $34,884.51. Following the completion of the transaction, the director owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% 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 bought 246 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were bought 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 of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock valued at $387,271 in the last ninety days. Company insiders own 8.60% of the company's stock.

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.