United Services Automobile Association Acquires Shares of 7,154 Simon Property Group, Inc. $SPG

Key Points

• United Services Automobile Association has acquired 7,154 shares of Simon Property Group valued at approximately $1.175 million, indicating increased institutional interest in the real estate investment trust.
• Simon Property Group has reported strong quarterly earnings with a net margin of 36.78% and a revenue of $1.50 billion, surpassing analysts' expectations.
• The company recently increased its quarterly dividend to $2.15 per share, reflecting a positive change from the previous dividend of $2.10 and resulting in an annualized yield of 4.7%.

United Services Automobile Association bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,154 shares of the real estate investment trust's stock, valued at approximately $1,175,000.

Several other institutional investors have also recently made changes to their positions in SPG. Farther Finance Advisors LLC grew its position in shares of Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC lifted its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after acquiring an additional 509 shares during the period. Brighton Jones LLC bought a new stake in Simon Property Group during the fourth quarter worth about $295,000. J.W. Cole Advisors Inc. bought a new position in shares of Simon Property Group during the first quarter valued at approximately $895,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Simon Property Group by 8.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after purchasing an additional 4,589 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig acquired 219 shares of the business's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $34,884.51. Following the transaction, the director directly owned 31,881 shares in the company, valued at approximately $5,078,324.49. The trade was a 0.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reuben S. Leibowitz acquired 522 shares of Simon Property Group stock in a transaction dated 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 purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,428 shares of company stock valued at $387,271 in the last three months. Corporate insiders own 8.60% of the company's stock.

Simon Property Group Price Performance

NYSE SPG opened at $182.62 on Tuesday. The stock has a market capitalization of $59.62 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 11.04 and a beta of 1.50. 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 current ratio of 1.23 and a quick ratio of 1.23. The business's fifty day moving average price is $169.48 and its 200-day moving average price is $164.22.

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 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the business earned $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. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share 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. 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 dividend on an annualized basis and a dividend yield of 4.7%. Simon Property Group's payout ratio is 129.83%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPG. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective for the company. in a research report on Tuesday, September 2nd. Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a "buy" rating and a $225.00 price target for the company. Mizuho lowered their price objective 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. Finally, 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 report on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $184.92.

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.

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