Swedbank AB Boosts Stake in Simon Property Group, Inc. $SPG

Key Points

• Swedbank AB increased its holdings in Simon Property Group, Inc. by 1.3% to a total value of $21.70 million during the first quarter.
• Insiders at Simon Property Group recently purchased shares, indicating confidence in the company, with total insider acquisitions reaching 2,428 shares valued at approximately $387,271 over the last 90 days.
• Simon Property Group has increased its quarterly dividend to $2.15 per share, representing a 4.7% dividend yield and reflecting a payout ratio of 132.92%.

Swedbank AB increased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,654 shares of the real estate investment trust's stock after buying an additional 1,667 shares during the period. Swedbank AB's holdings in Simon Property Group were worth $21,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock valued at $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock valued at $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Simon Property Group during the 1st quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Simon Property Group by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock valued at $608,086,000 after purchasing an additional 23,873 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling

In other Simon Property Group news, Director Glyn Aeppel purchased 234 shares of the stock in a transaction 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 completion of the acquisition, the director owned 19,057 shares in the company, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stefan M. Selig purchased 219 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the acquisition, the director owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% 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 90 days. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $1.50 during mid-day trading on Monday, hitting $183.97. The stock had a trading volume of 1,570,777 shares, compared to its average volume of 1,637,094. 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 50 day moving average of $171.11 and a two-hundred day moving average of $164.14. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The firm has a market cap of $60.07 billion, a PE ratio of 28.43, a PEG ratio of 11.05 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm earned $2.90 EPS. The firm'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. Research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $2.15 dividend. The ex-dividend date of this dividend 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 yield of 4.7%. Simon Property Group's dividend payout ratio is currently 132.92%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SPG. LADENBURG THALM/SH SH began 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. 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 report on Thursday. Argus reiterated a "buy" rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Stifel Nicolaus lowered shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a report on Tuesday, September 2nd. Finally, Scotiabank upped their target price 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. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $185.69.

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.