Vanguard Personalized Indexing Management LLC Has $7.44 Million Stock Holdings in Simon Property Group, Inc. $SPG

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Simon Property Group, Inc. by 22.2%, bringing its total to approximately $7.44 million as of the end of the second quarter.
• Simon Property Group recently raised its quarterly dividend to $2.15 per share, a positive change from the previous $2.10, reflecting a 4.9% yield.
• The company reported $3.05 EPS in its latest earnings, exceeding analysts' expectations by $0.01, and its revenue increased by 13.9% compared to the prior year.

Vanguard Personalized Indexing Management LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 22.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,272 shares of the real estate investment trust's stock after purchasing an additional 8,406 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Simon Property Group were worth $7,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in Simon Property Group in the 2nd quarter worth approximately $25,000. Park Square Financial Group LLC boosted its stake in 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 purchasing an additional 81 shares during the period. Richardson Financial Services Inc. boosted its stake in 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 purchasing an additional 111 shares during the period. Continuum Advisory LLC boosted its stake in 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 purchasing an additional 156 shares during the period. Finally, WPG Advisers LLC acquired a new position in Simon Property Group in the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Down 1.9%

NYSE SPG opened at $175.39 on Monday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market capitalization of $57.26 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 10.62 and a beta of 1.50. The firm's fifty day simple moving average is $178.12 and its 200-day simple moving average is $165.94.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business 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 business posted $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. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date of this dividend was 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 4.9%. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPG. Scotiabank raised their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Simon Property Group in a research note on Saturday, September 27th. JPMorgan Chase & Co. raised 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 note on Friday, August 22nd. Argus reaffirmed a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Morgan Stanley lifted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of "Hold" and a consensus target price of $187.23.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin bought 219 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the transaction, the director directly owned 19,229 shares of the company's stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares of the company's stock, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company's stock.

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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