Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Simon Property Group by 96.8%, owning a total of 6,161 shares valued at approximately $1,023,000.
• Several other institutional investors also bolstered their positions in Simon Property Group, including Park Square Financial Group with a 108% increase and Richardson Financial Services with a 185% increase.
• Simon Property Group announced a quarterly dividend of $2.10 per share, yielding 5.2%, with a payout ratio of 133.76%.

XTX Topco Ltd boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 96.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,161 shares of the real estate investment trust's stock after purchasing an additional 3,030 shares during the quarter. XTX Topco Ltd's holdings in Simon Property Group were worth $1,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Park Square Financial Group LLC lifted its position in 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 period. Richardson Financial Services Inc. increased its position in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC increased its position in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 156 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after buying an additional 95 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on Simon Property Group from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Tuesday. 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. Scotiabank lifted their price target on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Piper Sandler dropped their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Hold" and a consensus target price of $182.64.

Simon Property Group Trading Up 3.4%

Simon Property Group stock traded up $5.52 during mid-day trading on Tuesday, hitting $169.46. The company's stock had a trading volume of 2,645,247 shares, compared to its average volume of 1,387,565. The firm has a market capitalization of $55.32 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 11.07 and a beta of 1.48. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock's fifty day moving average is $162.03 and its two-hundred day moving average is $164.99.

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 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 70.40% and a net margin of 36.78%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 earnings per share. On average, analysts anticipate 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 issued a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 5.1%. Simon Property Group's dividend payout ratio (DPR) is currently 133.76%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the acquisition, the director owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% 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 Reuben S. Leibowitz acquired 522 shares of the company's stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the acquisition, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,386 shares of company stock worth $380,066 over the last quarter. 8.60% of the stock is currently owned by insiders.

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.