Wilmington Savings Fund Society FSB Sells 1,691 Shares of Simon Property Group, Inc. $SPG

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Simon Property Group by 26.5%, selling 1,691 shares in the 2nd quarter, while still retaining shares valued at $755,000.
• Simon Property Group recently reported $1.50 billion in quarterly revenue, exceeding estimates, with an earnings per share (EPS) of $3.05.
• The company has increased its quarterly dividend to $2.15 per share, representing an annual dividend of $8.60 and a yield of 4.9%.

Wilmington Savings Fund Society FSB reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 26.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,697 shares of the real estate investment trust's stock after selling 1,691 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Simon Property Group were worth $755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock worth $7,588,195,000 after acquiring an additional 267,503 shares during the period. Northern Trust Corp boosted its stake in Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock valued at $923,236,000 after purchasing an additional 96,126 shares during the period. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock valued at $805,853,000 after purchasing an additional 141,657 shares during the period. Nuveen LLC bought a new stake in Simon Property Group in the 1st quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust's stock valued at $608,086,000 after purchasing an additional 23,873 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $176.65 on Friday. The stock has a market capitalization of $57.67 billion, a PE ratio of 27.30, a P/E/G ratio of 13.08 and a beta of 1.50. 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 business has a fifty day moving average price of $178.94 and a two-hundred day moving average price of $166.26. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the firm earned $2.90 EPS. The company's quarterly revenue 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, equities 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.9%. Simon Property Group's payout ratio is presently 132.92%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock purchased 351 shares of the stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director owned 43,536 shares of the company's stock, valued at approximately $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Reuben S. Leibowitz purchased 464 shares of the stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $86,280.80. Following the acquisition, the director directly owned 58,659 shares in the company, valued at $10,907,641.05. This represents a 0.80% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,163 shares of company stock worth $401,605 in the last three months. Insiders own 8.66% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPG. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Piper Sandler boosted their price target on Simon Property Group from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Weiss Ratings restated a "buy (b)" rating on shares of Simon Property Group in a research note on Tuesday. Barclays boosted their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Monday, October 6th. Finally, Argus restated a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus target price of $187.23.

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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