Truvestments Capital LLC Has $4.96 Million Holdings in Simon Property Group, Inc. $SPG

Key Points

• Truvestments Capital LLC increased its holdings in Simon Property Group by 28.0%, totaling $4.96 million, making it the fund's 14th largest investment.
• Simon Property Group's quarterly earnings showed an EPS of $3.05, slightly exceeding estimates, and displayed a 13.9% year-over-year revenue growth.
• The company recently announced a quarterly dividend increase to $2.15 per share, reflecting a 4.9% yield based on annualized projections.

Truvestments Capital LLC increased its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 28.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,890 shares of the real estate investment trust's stock after acquiring an additional 6,536 shares during the period. Simon Property Group comprises 1.1% of Truvestments Capital LLC's investment portfolio, making the stock its 14th biggest holding. Truvestments Capital LLC's holdings in Simon Property Group were worth $4,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPG. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Simon Property Group by 421.6% in the 1st 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. Colonial Trust Co SC raised its holdings in shares of Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 57 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Simon Property Group by 77.2% in the 1st 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. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SPG. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a research report on Monday. Stifel Nicolaus set a $179.00 price objective on shares of Simon Property Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Scotiabank upped their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. LADENBURG THALM/SH SH began coverage on shares of 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. Finally, JPMorgan Chase & Co. upped their price objective 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. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Simon Property Group presently has an average rating of "Hold" and a consensus price target of $184.00.

Simon Property Group Stock Up 0.4%

Simon Property Group stock opened at $177.09 on Wednesday. The firm has a 50 day moving average price of $165.58 and a 200-day moving average price of $164.63. The company has a market capitalization of $57.82 billion, a P/E ratio of 27.37, a P/E/G ratio of 10.66 and a beta of 1.48. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $2.15 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. Simon Property Group's payout ratio is 129.83%.

Insider Buying and Selling

In other Simon Property Group news, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $37,273.86. Following the acquisition, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin bought 246 shares of the stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. This represents a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 in the last 90 days. 8.60% of the stock is currently 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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