Wellington Management Group LLP Decreases Stake in Simon Property Group, Inc. $SPG

Key Points

• Wellington Management Group LLP has reduced its stake in Simon Property Group, decreasing its holdings by 0.7% in the first quarter, resulting in ownership of 914,887 shares valued at approximately $151.9 million.
• Several other institutional investors have recently adjusted their positions in Simon Property Group, with notable increases including a 31.1% rise from Farther Finance Advisors LLC and a 193.5% increase by Golden State Wealth Management LLC.
• Simon Property Group announced a quarterly dividend increase from $2.10 to $2.15 per share, reflecting an annual yield of 4.9% and a payout ratio of 129.83%.

Wellington Management Group LLP lowered its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 914,887 shares of the real estate investment trust's stock after selling 6,689 shares during the quarter. Wellington Management Group LLP owned about 0.28% of Simon Property Group worth $151,944,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its holdings in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 57 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after acquiring an additional 70 shares during the last quarter. Aspiriant LLC increased its holdings in Simon Property Group by 1.3% in the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after acquiring an additional 74 shares during the last quarter. DoubleLine ETF Adviser LP increased its holdings in Simon Property Group by 0.3% in the 4th quarter. DoubleLine ETF Adviser LP now owns 21,970 shares of the real estate investment trust's stock worth $3,783,000 after acquiring an additional 75 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in Simon Property Group by 2.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust's stock worth $544,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of NYSE SPG traded up $2.9910 during trading hours on Friday, reaching $176.4210. 1,313,711 shares of the stock traded hands, compared to its average volume of 1,495,004. The company has a market capitalization of $57.60 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 10.65 and a beta of 1.48. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company's 50-day simple moving average is $164.80 and its two-hundred day simple moving average is $164.67.

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 earnings per share for the quarter, beating 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%.Simon Property Group's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group's payout ratio is presently 129.83%.

Wall Street Analyst Weigh In

Several research analysts have commented on SPG shares. LADENBURG THALM/SH SH started coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Scotiabank raised their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. raised their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has an average rating of "Hold" and an average target price of $183.00.

Insiders Place Their Bets

In related news, Director Glyn Aeppel purchased 234 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $37,273.86. Following the purchase, the director directly owned 19,057 shares of the company's stock, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock purchased 396 shares of the firm's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares in the company, valued at approximately $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 ninety days, insiders bought 2,428 shares of company stock worth $387,271. 8.66% of the stock is currently owned by corporate insiders.

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.