Simon Property Group, Inc. $SPG Shares Bought by Alliancebernstein L.P.

Key Points

• AllianceBernstein L.P. increased its holdings in Simon Property Group by 2.9%, acquiring an additional 21,985 shares, bringing its total ownership to approximately 0.24% of the company.
• Simon Property Group recently reported a quarterly earnings per share (EPS) of $3.05, surpassing analysts' expectations, and set its FY 2025 EPS guidance at 12.450-12.650.
• The company announced an increase in its quarterly dividend from $2.10 to $2.15 per share, with a dividend yield of 4.7%.

Alliancebernstein L.P. raised its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 787,147 shares of the real estate investment trust's stock after purchasing an additional 21,985 shares during the quarter. Alliancebernstein L.P. owned about 0.24% of Simon Property Group worth $130,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $295,000. J.W. Cole Advisors Inc. acquired a new position in shares of Simon Property Group in the 1st quarter valued at $895,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after purchasing an additional 4,589 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Stefan M. Selig purchased 219 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were bought at an average price of $159.29 per share, with a total value of $34,884.51. Following the transaction, the director directly owned 31,881 shares of the company's stock, valued at approximately $5,078,324.49. This trade represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the company's stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,428 shares of company stock worth $387,271 over the last ninety days. Company insiders own 8.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays assumed coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Mizuho decreased their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. 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 note on Monday, August 25th. Argus reaffirmed a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday. Finally, LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $184.92.

Simon Property Group Stock Up 0.2%

NYSE SPG traded up $0.37 during trading hours on Monday, hitting $182.62. 2,338,895 shares of the company were exchanged, compared to its average volume of 1,524,552. 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 firm has a market cap of $59.62 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 11.04 and a beta of 1.50. The company has a 50 day moving average of $169.04 and a two-hundred day moving average of $164.23. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. The company 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%.Simon Property Group's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 129.83%.

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.