DoubleLine ETF Adviser LP Has $2.95 Million Holdings in Simon Property Group, Inc. $SPG

Key Points

• DoubleLine ETF Adviser LP trimmed its holdings in Simon Property Group, Inc. by 19.1%, now owning 17,769 shares valued at approximately $2.95 million.
• Analysts have set varying price targets for Simon Property Group, with a consensus rating of "Hold" and an average target price of $184.91.
• Simon Property Group recently increased its quarterly dividend to $2.15 per share, reflecting a yield of 4.8% and a payout ratio of 129.83%.

DoubleLine ETF Adviser LP trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,769 shares of the real estate investment trust's stock after selling 4,201 shares during the period. DoubleLine ETF Adviser LP's holdings in Simon Property Group were worth $2,951,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Clark Capital Management Group Inc. acquired a new position in Simon Property Group during the first quarter valued at $39,370,000. Banque Transatlantique SA acquired a new position in Simon Property Group during the first quarter valued at $198,000. Alliancebernstein L.P. raised its position in Simon Property Group by 2.9% during the first quarter. Alliancebernstein L.P. now owns 787,147 shares of the real estate investment trust's stock valued at $130,729,000 after buying an additional 21,985 shares during the period. AQR Capital Management LLC raised its position in Simon Property Group by 45.4% during the first quarter. AQR Capital Management LLC now owns 211,810 shares of the real estate investment trust's stock valued at $34,773,000 after buying an additional 66,174 shares during the period. Finally, American Trust Investment Advisors LLC raised its position in Simon Property Group by 8.9% during the first quarter. American Trust Investment Advisors LLC now owns 5,262 shares of the real estate investment trust's stock valued at $874,000 after buying an additional 430 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the purchase, the director directly owned 19,057 shares in the company, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz bought 522 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the purchase, 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 disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 over the last 90 days. Company insiders own 8.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SPG shares. Truist Financial upped their price target on Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research report on Monday, August 25th. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Barclays assumed coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price on the stock. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Finally, Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $184.92.

Simon Property Group Stock Up 0.3%

Shares of NYSE SPG traded up $0.53 during mid-day trading on Friday, reaching $182.05. 1,829,523 shares of the company traded hands, compared to its average volume of 1,488,531. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $59.44 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 11.04 and a beta of 1.50. The company's fifty day moving average is $169.04 and its two-hundred day moving average is $164.39. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.7%. The ex-dividend date is 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 129.83%.

Simon Property Group Company 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.