Swedbank AB Acquires 7,296 Shares of Simon Property Group, Inc. $SPG

Key Points

• Swedbank AB increased its stake in Simon Property Group, Inc. by 5.6%, now holding 137,950 shares worth approximately $22.2 million.
• Simon Property Group recently announced a quarterly dividend increase to $2.15 per share, resulting in an annualized yield of 4.8%.
• The firm's quarterly earnings exceeded estimates, reporting $3.05 earnings per share and a revenue of $1.50 billion, up 13.9% year-over-year.

Swedbank AB lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,950 shares of the real estate investment trust's stock after purchasing an additional 7,296 shares during the period. Swedbank AB's holdings in Simon Property Group were worth $22,177,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after purchasing an additional 789 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after purchasing an additional 509 shares during the period. Inspire Investing LLC increased its stake in shares of Simon Property Group by 5.7% in the first quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust's stock worth $5,358,000 after purchasing an additional 1,750 shares during the period. Brighton Jones LLC acquired a new stake in Simon Property Group during the fourth quarter worth about $295,000. Finally, Voya Investment Management LLC grew its position in Simon Property Group by 16.3% during the first quarter. Voya Investment Management LLC now owns 210,720 shares of the real estate investment trust's stock worth $34,996,000 after buying an additional 29,479 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Up 0.4%

NYSE:SPG opened at $180.79 on Friday. The stock's fifty day moving average price is $172.57 and its two-hundred day moving average price is $164.18. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week 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 company has a market cap of $59.03 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 10.94 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $2.90 EPS. The business'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. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.8%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the transaction, the director owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Smith acquired 378 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $60,211.62. Following the completion of the transaction, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. This trade represents a 1.20% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SPG shares. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Stifel Nicolaus downgraded Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a research report on Tuesday, September 2nd. Scotiabank lifted their target price on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Finally, LADENBURG THALM/SH SH started coverage on Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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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