Simon Property Group, Inc. $SPG Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly reduced its stake in Simon Property Group by 65%, selling over 6,200 shares and now owning 3,368 shares valued at approximately $559,000.
• Despite the stake reduction by some investors, other institutions, such as RWA Wealth Partners, increased their holdings by as much as 71.8%, indicating mixed investor sentiment.
• Simon Property Group declared a quarterly dividend of $2.15 per share, reflecting an increase from the previous $2.10, with a current dividend yield of 4.9% and a payout ratio of 129.83%.

Quantbot Technologies LP decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 65.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,368 shares of the real estate investment trust's stock after selling 6,259 shares during the quarter. Quantbot Technologies LP's holdings in Simon Property Group were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RWA Wealth Partners LLC lifted its holdings in shares of Simon Property Group by 71.8% during the first quarter. RWA Wealth Partners LLC now owns 67,841 shares of the real estate investment trust's stock worth $11,267,000 after purchasing an additional 28,361 shares during the period. Korea Investment CORP lifted its holdings in Simon Property Group by 12.4% in the first quarter. Korea Investment CORP now owns 239,695 shares of the real estate investment trust's stock valued at $39,809,000 after acquiring an additional 26,430 shares during the period. Northern Trust Corp lifted its holdings in Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock valued at $923,236,000 after acquiring an additional 96,126 shares during the period. Brooklyn Investment Group lifted its holdings in Simon Property Group by 4.1% in the first quarter. Brooklyn Investment Group now owns 2,251 shares of the real estate investment trust's stock valued at $374,000 after acquiring an additional 88 shares during the period. Finally, Cascade Financial Partners LLC lifted its holdings in Simon Property Group by 237.3% in the first quarter. Cascade Financial Partners LLC now owns 4,209 shares of the real estate investment trust's stock valued at $699,000 after acquiring an additional 2,961 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Up 0.1%

Simon Property Group stock opened at $176.6810 on Tuesday. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. 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 capitalization of $57.68 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 10.67 and a beta of 1.48. The business has a 50 day simple moving average of $165.18 and a 200-day simple moving average of $164.54.

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 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 business earned $2.90 earnings per share. The firm's revenue for the quarter 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. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 4.9%. Simon Property Group's dividend payout ratio (DPR) is presently 129.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPG. Mizuho decreased their price target 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. Barclays initiated coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. Scotiabank boosted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a research report on Friday. Finally, LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective for the company. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $184.00.

Insider Activity

In other news, Director Larry C. Glasscock purchased 396 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,428 shares of company stock valued at $387,271 in the last three months. Company insiders own 8.60% of the company's stock.

Simon Property Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.