US Bancorp DE Buys 2,224 Shares of Simon Property Group, Inc. $SPG

Key Points

• US Bancorp DE increased its stake in Simon Property Group by 3.7%, acquiring an additional 2,224 shares in the second quarter, bringing its total holdings to 61,566 shares valued at approximately $9.9 million.
• Institutional investors now hold 93.01% of Simon Property Group's stock, reflecting significant investments from major firms like Nuveen LLC and Principal Financial Group.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, translating to an annualized yield of 4.9%, up from the previous dividend of $2.10.

US Bancorp DE increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,566 shares of the real estate investment trust's stock after buying an additional 2,224 shares during the quarter. US Bancorp DE's holdings in Simon Property Group were worth $9,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Nuveen LLC bought a new position in shares of Simon Property Group during the 1st quarter worth approximately $724,937,000. Principal Financial Group Inc. lifted its position in shares of Simon Property Group by 133.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after buying an additional 1,830,264 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Simon Property Group during the 1st quarter worth approximately $197,377,000. Goldman Sachs Group Inc. lifted its position in shares of Simon Property Group by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust's stock worth $494,267,000 after buying an additional 604,016 shares during the period. Finally, Resolution Capital Ltd lifted its position in shares of Simon Property Group by 45.8% during the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust's stock worth $298,873,000 after buying an additional 565,084 shares during the period. Institutional investors own 93.01% of the company's stock.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the transaction, the director directly owned 43,536 shares of the company's stock, valued at approximately $8,095,519.20. This trade represents a 0.81% 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 Daniel C. Smith purchased 335 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,163 shares of company stock worth $401,605. Corporate insiders own 8.66% of the company's stock.

Simon Property Group Stock Down 1.9%

Shares of SPG opened at $175.39 on Friday. The firm has a market capitalization of $57.26 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 10.61 and a beta of 1.50. 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 business's fifty day moving average price is $178.12 and its two-hundred day moving average price is $165.94. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is 132.92%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Simon Property Group in a research report on Saturday, September 27th. JPMorgan Chase & Co. raised their price target on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Evercore ISI reaffirmed an "in-line" rating and set a $187.00 price target (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. 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 target for the company. Finally, Piper Sandler raised their price target on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $187.23.

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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