APG Asset Management N.V. Sells 7,395 Shares of Simon Property Group, Inc. $SPG

Key Points

• APG Asset Management N.V. has reduced its stake in Simon Property Group by 3.8%, now holding approximately 189,094 shares valued at about $29 million.
• Simon Property Group reported a quarterly EPS of $3.05, exceeding analyst expectations, with revenues hitting $1.50 billion, a 13.9% increase from the previous year.
• The company increased its quarterly dividend to $2.15 per share, resulting in an annualized yield of 4.9%.

APG Asset Management N.V. trimmed its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189,094 shares of the real estate investment trust's stock after selling 7,395 shares during the period. APG Asset Management N.V. owned 0.06% of Simon Property Group worth $29,073,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPG. Park Square Financial Group LLC boosted its position in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. lifted its stake in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Continuum Advisory LLC lifted its stake in Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Colonial Trust Co SC boosted its position in 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 worth $36,000 after acquiring an additional 57 shares during the period. Finally, AdvisorNet Financial Inc grew its stake 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 valued at $36,000 after acquiring an additional 95 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 0.4%

SPG traded up $0.68 during midday trading on Tuesday, hitting $177.09. 2,020,109 shares of the company's stock traded hands, compared to its average volume of 1,507,866. 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 company has a market cap of $57.82 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 10.66 and a beta of 1.48. The stock's fifty day simple moving average is $165.58 and its 200-day simple moving average is $164.63. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. Simon Property Group's dividend payout ratio is currently 129.83%.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Mizuho decreased their target price on shares of 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. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday. Finally, Barclays initiated coverage on shares of 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. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $184.00.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock acquired 396 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glyn Aeppel bought 234 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was 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 in the company, valued at approximately $3,035,589.53. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,428 shares of company stock worth $387,271 in the last 90 days. Company insiders own 8.60% of the company's stock.

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.