AlphaQuest LLC Sells 6,333 Shares of Simon Property Group, Inc. $SPG

Key Points

• AlphaQuest LLC significantly reduced its stake in Simon Property Group, Inc. by 96.5%, ending the first quarter with only 232 shares after selling 6,333 shares.
• Simon Property Group has announced a quarterly dividend increase to $2.15 per share, representing an annualized yield of 4.7% and a payout ratio of 129.83%.
• Institutional investors collectively own 93.01% of Simon Property Group's stock, indicating strong confidence among major shareholders.

AlphaQuest LLC trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 96.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232 shares of the real estate investment trust's stock after selling 6,333 shares during the quarter. AlphaQuest LLC's holdings in Simon Property Group were worth $39,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Park Square Financial Group LLC raised its stake in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Up 0.3%

Shares of SPG stock traded up $0.53 on Friday, hitting $182.05. The stock had a trading volume of 1,829,523 shares, compared to its average volume of 1,488,531. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day moving average of $169.04 and a 200 day moving average of $164.39. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market cap of $59.44 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 11.04 and a beta of 1.50.

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 for the quarter, beating the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. 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 business earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company 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 $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. Simon Property Group's payout ratio is currently 129.83%.

Insider Transactions at Simon Property Group

In other news, Director Glyn Aeppel purchased 234 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost 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 in the company, valued at $3,035,589.53. This represents a 1.24% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 246 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,428 shares of company stock valued at $387,271. Company insiders own 8.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPG shares. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Truist Financial boosted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a research report on Monday, August 25th. Argus reiterated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Finally, Piper Sandler dropped their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $184.92.

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.