Simon Property Group, Inc. $SPG Shares Sold by PGGM Investments

Key Points

• PGGM Investments sold 74,935 shares of Simon Property Group, reducing its ownership by 8.7%, leaving it with 784,908 shares, about 2.2% of its portfolio.
• Simon Property Group recently announced a quarterly dividend of $2.15 per share, up from the previous $2.10, reflecting a 4.6% dividend yield.
• Analysts have mixed views on Simon Property Group: Piper Sandler set a price target of $210, while Stifel Nicolaus downgraded the company from a "buy" to a "hold" rating.

PGGM Investments trimmed its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 784,908 shares of the real estate investment trust's stock after selling 74,935 shares during the period. Simon Property Group makes up about 2.2% of PGGM Investments' portfolio, making the stock its 13th largest holding. PGGM Investments owned 0.24% of Simon Property Group worth $126,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its position in 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 purchasing an additional 81 shares during the period. Richardson Financial Services Inc. lifted its position 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 acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC lifted its position 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 acquiring an additional 156 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of 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 during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Simon Property Group during the 1st quarter valued at $47,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $187.89 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The business has a fifty day simple moving average of $175.60 and a 200 day simple moving average of $165.08. The firm has a market cap of $61.34 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 11.25 and a beta of 1.50.

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 (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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $2.90 earnings per share. Simon Property Group's quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 9th. Simon Property Group's dividend payout ratio is 132.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler increased their price objective on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Morgan Stanley increased their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Stifel Nicolaus downgraded Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective for the company. in a research report on Tuesday, September 2nd. Scotiabank increased their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research report on Thursday, August 28th. Finally, Evercore ISI reissued an "in-line" rating and set a $187.00 target price (up from $183.00) on shares of Simon Property Group in a research note on Monday, September 15th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus target price of $186.46.

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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