Vident Advisory LLC Sells 25,710 Shares of Simon Property Group, Inc. $SPG

Key Points

• Vident Advisory LLC has reduced its stake in Simon Property Group by 43.3%, selling 25,710 shares, and now owns 33,625 shares worth approximately $5.6 million.
• Despite the decline in Vident's holdings, other institutional investors have increased their stakes in Simon Property Group, with 93.01% of the stock now owned by institutional investors.
• Simon Property Group has recently declared an increased quarterly dividend of $2.15 per share, bolstering its annualized dividend to $8.60 and yielding 4.8%.

Vident Advisory LLC reduced its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 43.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,625 shares of the real estate investment trust's stock after selling 25,710 shares during the period. Vident Advisory LLC's holdings in Simon Property Group were worth $5,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Evergreen Capital Management LLC grew its position in shares of Simon Property Group by 4.3% during the 1st quarter. Evergreen Capital Management LLC now owns 5,168 shares of the real estate investment trust's stock valued at $858,000 after acquiring an additional 214 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Simon Property Group by 10.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 247,728 shares of the real estate investment trust's stock valued at $41,143,000 after buying an additional 24,217 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $1,021,000. GKV Capital Management Co. Inc. lifted its stake in shares of Simon Property Group by 29.8% during the 1st quarter. GKV Capital Management Co. Inc. now owns 14,500 shares of the real estate investment trust's stock valued at $2,408,000 after buying an additional 3,330 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $47,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $180.95 on Friday. 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 stock has a market capitalization of $59.08 billion, a PE ratio of 27.97, a P/E/G ratio of 10.94 and a beta of 1.48. The company's 50 day simple moving average is $166.93 and its two-hundred day simple moving average is $164.56.

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 EPS for the quarter, topping 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 net margin of 36.78% and a return on equity of 72.38%. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts predict 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. Stockholders of record on Tuesday, September 9th will be issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. 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. Simon Property Group's payout ratio is currently 129.83%.

Insider Transactions at Simon Property Group

In related news, Director Daniel C. Smith purchased 378 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $60,211.62. Following the acquisition, the director directly owned 31,998 shares of the company's stock, valued at approximately $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the acquisition, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,428 shares of company stock worth $387,271. Company insiders own 8.66% of the company's stock.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent research reports. Mizuho dropped their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 10th. Scotiabank upped their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research note on Friday, July 18th. They set a "buy" rating and a $225.00 price target on the stock. Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Barclays initiated coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and a consensus target price of $184.91.

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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