Simon Property Group, Inc. $SPG Shares Sold by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd reduced its stake in Simon Property Group, Inc. by 7.8%, owning 123,709 shares valued at approximately $20.5 million after selling 10,497 shares in the first quarter.
• Simon Property Group reported a quarterly earnings per share of $3.05, slightly exceeding expectations, with a year-over-year revenue increase of 13.9% to $1.5 billion.
• The company announced an increase in its quarterly dividend to $2.15 per share, representing a yield of 4.8%, with the payout ratio currently at 132.92%.

IFM Investors Pty Ltd lowered its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 123,709 shares of the real estate investment trust's stock after selling 10,497 shares during the period. IFM Investors Pty Ltd's holdings in Simon Property Group were worth $20,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SPG. Intech Investment Management LLC grew its position in shares of Simon Property Group by 8.8% during the 1st quarter. Intech Investment Management LLC now owns 31,926 shares of the real estate investment trust's stock valued at $5,302,000 after buying an additional 2,572 shares during the last quarter. Focus Partners Wealth grew its position in shares of Simon Property Group by 89.0% during the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust's stock valued at $18,959,000 after buying an additional 53,764 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Simon Property Group by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,636,637 shares of the real estate investment trust's stock valued at $603,973,000 after buying an additional 225,518 shares during the last quarter. Palogic Value Management L.P. grew its position in shares of Simon Property Group by 7.9% during the 1st quarter. Palogic Value Management L.P. now owns 8,798 shares of the real estate investment trust's stock valued at $1,461,000 after buying an additional 641 shares during the last quarter. Finally, Zimmer Partners LP grew its position in shares of Simon Property Group by 250.0% during the 1st quarter. Zimmer Partners LP now owns 87,500 shares of the real estate investment trust's stock valued at $14,532,000 after buying an additional 62,500 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling

In other Simon Property Group news, Director Gary M. Rodkin bought 246 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the completion of the purchase, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,428 shares of company stock worth $387,271. Company insiders own 8.66% of the company's stock.

Analysts Set New Price Targets

SPG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective for the company. Barclays initiated coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Piper Sandler lowered their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $184.54.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $1.23 during trading on Friday, reaching $182.68. The company had a trading volume of 1,547,320 shares, compared to its average volume of 1,638,808. The firm's fifty day moving average is $170.73 and its 200 day moving average is $164.42. The firm has a market capitalization of $59.64 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 11.14 and a beta of 1.50. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results 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. 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 business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS 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. Stockholders of record on Tuesday, September 9th will be paid 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 dividend 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 (DPR) is currently 132.92%.

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.