Simon Property Group, Inc. $SPG Shares Purchased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Simon Property Group by 54.4%, owning 7,744 shares valued at approximately $1.29 million after purchasing an additional 2,729 shares in the first quarter.
• Simon Property Group recently declared a quarterly dividend of $2.15, up from $2.10, representing a 5% yield based on an annualized amount of $8.60.
• The company reported $3.05 EPS for the last quarter, surpassing analysts' estimates and showing a 13.9% increase in revenue year-over-year.

Vestmark Advisory Solutions Inc. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 54.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,744 shares of the real estate investment trust's stock after acquiring an additional 2,729 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Simon Property Group were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SPG. Nuveen LLC purchased a new stake in shares of Simon Property Group during the first quarter worth $724,937,000. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 133.0% during the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after acquiring an additional 1,830,264 shares during the period. Northern Trust Corp increased its position in shares of Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after acquiring an additional 1,718,398 shares during the period. Resolution Capital Ltd purchased a new stake in shares of Simon Property Group during the fourth quarter worth $212,592,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Simon Property Group in the first quarter valued at $197,377,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $2.2040 during midday trading on Tuesday, reaching $174.7640. 1,907,467 shares of the company were exchanged, compared to its average volume of 1,509,913. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The stock has a fifty day simple moving average of $163.82 and a 200 day simple moving average of $164.69. The stock has a market cap of $57.06 billion, a P/E ratio of 27.01, a PEG ratio of 11.57 and a beta of 1.48.

Simon Property Group (NYSE:SPG - Get Free Report) last released 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. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company posted $2.90 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal 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 issued a dividend of $2.15 per share. This is an increase 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 4.9%. The ex-dividend date of this dividend is Tuesday, September 9th. Simon Property Group's dividend payout ratio is 129.83%.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Piper Sandler dropped their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Mizuho dropped their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. JPMorgan Chase & Co. decreased their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Barclays began coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average target price of $182.64.

Insider Activity

In related news, Director Gary M. Rodkin purchased 246 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $63,078.84. Following the transaction, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,428 shares of company stock valued at $387,271. Insiders own 8.60% 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.