Simon Property Group, Inc. $SPG Shares Sold by Western Financial Corp CA

Key Points

• Western Financial Corp CA significantly reduced its stake in Simon Property Group by 78.3%, holding 2,523 shares valued at approximately $406,000 after selling 9,079 shares.
• Simon Property Group increased its quarterly dividend to $2.15 per share, reflecting a 4.6% yield, which is an increase from the previous $2.10 dividend.
• The company's stock has experienced a 1-year high of $190.13 and opened at $185.29, with earnings reported at $3.05 EPS, exceeding analyst expectations.

Western Financial Corp CA decreased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 78.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,523 shares of the real estate investment trust's stock after selling 9,079 shares during the period. Western Financial Corp CA's holdings in Simon Property Group were worth $406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC lifted its stake 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 valued at $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC raised its position in Simon Property Group by 421.6% during the first 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 during the last quarter. AdvisorNet Financial Inc raised its position in Simon Property Group by 77.2% during the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in Simon Property Group during the first quarter worth about $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price for the company. in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley lifted 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, September 11th. Argus restated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Mizuho cut 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 report on Tuesday, June 10th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $186.46.

Simon Property Group Price Performance

Simon Property Group stock opened at $185.29 on Friday. 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. The firm has a 50 day moving average price of $174.72 and a 200 day moving average price of $164.72. The company has a market cap of $60.50 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 11.06 and a beta of 1.50.

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 net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business posted $2.90 earnings per share. Simon Property Group's revenue for the quarter 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. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share 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. Investors of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a yield of 4.6%. 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 dividend payout ratio (DPR) is currently 132.92%.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 522 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the completion of the transaction, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glyn Aeppel purchased 234 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the transaction, the director directly owned 19,057 shares of the company's stock, valued at $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 valued at $387,271 in the last ninety days. 8.66% of the stock is owned by company insiders.

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.

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