Vontobel Holding Ltd. Acquires New Shares in Simon Property Group, Inc. $SPG

Key Points

• Vontobel Holding Ltd. acquired 1,569 shares of Simon Property Group, Inc. during Q2, with a total value of approximately $252,000.
• Multiple hedge funds significantly increased their stakes in Simon Property Group, reflecting growing institutional interest in the company.
• Simon Property Group recently raised its quarterly dividend to $2.15 per share, boosting annualized dividends to $8.60 and yielding 4.8%.

Vontobel Holding Ltd. acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,569 shares of the real estate investment trust's stock, valued at approximately $252,000.

Other hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in shares of Simon Property Group by 108.0% during the first 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 last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Simon Property Group by 185.0% during the first 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 last quarter. Continuum Advisory LLC boosted its holdings in shares of Simon Property Group by 421.6% during the first 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 last quarter. WPG Advisers LLC acquired a new stake in shares of Simon Property Group during the first quarter worth $47,000. Finally, Grove Bank & Trust boosted its holdings in shares of Simon Property Group by 231.3% during the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith bought 335 shares of the company's 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 $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company's stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,163 shares of company stock valued at $401,605 over the last 90 days. Corporate insiders own 8.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SPG shares. Evercore ISI restated an "in-line" rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Argus reiterated a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus cut Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 target price on the stock. in a report on Tuesday, September 2nd. Finally, Barclays lifted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $187.23.

Simon Property Group Trading Up 1.6%

Shares of SPG opened at $178.58 on Thursday. The stock's 50-day moving average is $178.73 and its two-hundred day moving average is $166.18. The stock has a market cap of $58.30 billion, a PE ratio of 27.60, a P/E/G ratio of 12.89 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month 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.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This is a boost 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 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group's payout ratio is presently 132.92%.

About Simon Property Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.