TTP Investments Inc. Sells 54,855 Shares of Simon Property Group, Inc. $SPG

Key Points

• TTP Investments Inc. significantly reduced its stake in Simon Property Group by 94.1% during Q2, leaving it with only 3,459 shares after selling 54,855 shares.
• Simon Property Group reported a strong earnings performance with a revenue of $1.50 billion and EPS of $3.05, exceeding analyst expectations, while guiding for FY 2025 EPS between 12.450-12.650.
• The company announced an increase in its quarterly dividend to $2.15 per share, marking a positive change from the previous dividend of $2.10, and reflecting a yield of 4.8%.

TTP Investments Inc. lowered its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 94.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,459 shares of the real estate investment trust's stock after selling 54,855 shares during the quarter. TTP Investments Inc.'s holdings in Simon Property Group were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPG. Park Square Financial Group LLC increased its position in shares of Simon Property Group by 108.0% during the 1st 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 last quarter. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% during the 1st 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 last quarter. Continuum Advisory LLC increased its position in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in 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 in the last quarter. Finally, WPG Advisers LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Insider Buying and Selling

In related news, Director Stefan M. Selig purchased 219 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $34,884.51. Following the completion of the transaction, the director directly owned 31,881 shares in the company, valued at $5,078,324.49. This represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Reuben S. Leibowitz purchased 522 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought 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 $9,269,881.55. The trade was a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock valued at $387,271 over the last 90 days. 8.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SPG shares. LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Stifel Nicolaus lowered 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 report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Truist Financial increased their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Finally, Barclays began coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $186.46.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $0.53 during midday trading on Monday, reaching $181.25. 1,401,293 shares of the stock traded hands, compared to its average volume of 1,671,119. The stock has a market capitalization of $59.18 billion, a PE ratio of 28.01, a P/E/G ratio of 10.94 and a beta of 1.50. The company's 50 day moving average is $172.57 and its 200 day moving average is $164.11. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. 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 (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 72.38% and a net margin of 36.78%.Simon Property Group's revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts anticipate 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 $2.15 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 9th. Simon Property Group's dividend payout ratio is 132.92%.

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.