Simon Property Group, Inc. $SPG Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic has reduced its holdings in Simon Property Group by 20.3%, now owning 19,206 shares, which accounts for 1.0% of its investment portfolio.
• Several other hedge funds have increased their positions significantly in Simon Property Group, with increases ranging from 108.0% to 421.6% during the first quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, reflecting a yield of 4.7%, which is an increase from the previous dividend of $2.10.

Pensionfund Sabic reduced its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 20.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,206 shares of the real estate investment trust's stock after selling 4,900 shares during the quarter. Simon Property Group comprises 1.0% of Pensionfund Sabic's investment portfolio, making the stock its 23rd biggest holding. Pensionfund Sabic's holdings in Simon Property Group were worth $3,190,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC lifted its holdings in shares of 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 valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of 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 valued at $28,000 after buying an additional 111 shares during the period. Continuum Advisory LLC lifted its holdings in shares of 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 valued at $32,000 after buying an additional 156 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 95 shares during the period. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the 1st quarter valued at approximately $47,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gary M. Rodkin purchased 246 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reuben S. Leibowitz purchased 522 shares of the business's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $83,149.38. Following the completion of the acquisition, 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. Over the last 90 days, insiders acquired 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

Several analysts have recently commented on the company. Argus reissued a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Morgan Stanley raised their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price objective for the company. Barclays initiated coverage on Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective for the company. Finally, Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $184.54.

Simon Property Group Stock Performance

Shares of SPG stock opened at $182.68 on Friday. The stock has a fifty day moving average price of $170.73 and a 200 day moving average price of $164.42. The stock has a market cap of $59.64 billion, a PE ratio of 28.23, a P/E/G ratio of 11.14 and a beta of 1.50. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year 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 data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. Simon Property Group's 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. Sell-side analysts forecast 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 issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend 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 payout ratio is presently 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.

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