Simon Property Group, Inc. $SPG Shares Purchased by Zimmer Partners LP

Key Points

• Zimmer Partners LP significantly increased its stake in Simon Property Group, acquiring an additional 62,500 shares to raise its total holdings by 250% in the first quarter, now valued at approximately $14.5 million.
• Simon Property Group reported $3.05 earnings per share for the most recent quarter, exceeding analyst estimates by $0.01, with revenues rising 13.9% year-over-year to $1.50 billion.
• The company announced an increased quarterly dividend of $2.15, up from $2.10, yielding 4.7% and reflecting a commitment to returning value to shareholders.

Zimmer Partners LP raised its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 250.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,500 shares of the real estate investment trust's stock after acquiring an additional 62,500 shares during the quarter. Zimmer Partners LP's holdings in Simon Property Group were worth $14,532,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Great Lakes Advisors LLC raised its stake in shares of Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Simon Property Group by 1.6% during the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after purchasing an additional 70 shares during the last quarter. Aspiriant LLC raised its stake in shares of Simon Property Group by 1.3% during the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after purchasing an additional 74 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Simon Property Group by 2.2% during the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust's stock worth $544,000 after purchasing an additional 75 shares during the last quarter. Finally, Moody National Bank Trust Division raised its stake in shares of Simon Property Group by 5.9% during the first quarter. Moody National Bank Trust Division now owns 1,394 shares of the real estate investment trust's stock worth $232,000 after purchasing an additional 78 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 0.2%

Shares of SPG stock opened at $182.62 on Tuesday. The business's fifty day moving average price is $169.48 and its 200 day moving average price is $164.22. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The firm has a market capitalization of $59.62 billion, a PE ratio of 28.23, a P/E/G ratio of 11.04 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted $2.90 earnings per share. Simon Property Group's quarterly revenue 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. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 4.7%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is currently 129.83%.

Analysts Set New Price Targets

SPG has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Piper Sandler cut their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 price target for the company. Finally, Scotiabank upped their price target on 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 research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Simon Property Group has a consensus rating of "Hold" and a consensus target price of $184.92.

Insider Buying and Selling

In other news, Director Glyn Aeppel bought 234 shares of the 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 $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares of the company's stock, valued at approximately $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 available through this hyperlink. Also, Director Larry C. Glasscock bought 396 shares of the stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director directly owned 43,185 shares of the company's stock, valued at $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 valued at $387,271 in the last three months. 8.60% of the stock is owned by insiders.

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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