Banco Santander S.A. Reduces Position in Simon Property Group, Inc. $SPG

Banco Santander S.A. cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 141,050 shares of the real estate investment trust’s stock after selling 6,590 shares during the quarter. Banco Santander S.A.’s holdings in Simon Property Group were worth $22,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Simon Property Group during the second quarter valued at about $25,000. Park Square Financial Group LLC increased its position 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 valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its position 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 valued at $28,000 after buying an additional 111 shares during the period. WPG Advisers LLC bought a new stake in shares of Simon Property Group during the first quarter valued at about $47,000. Finally, TCTC Holdings LLC increased its position in shares of Simon Property Group by 93.5% during the first quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 186 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 464 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the transaction, the director directly owned 58,659 shares of the company’s stock, valued at approximately $10,907,641.05. The trade was a 0.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,163 shares of company stock valued at $401,605. 8.60% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Down 0.2%

SPG stock opened at $178.27 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company’s 50 day moving average is $180.03 and its 200 day moving average is $167.60. The stock has a market cap of $58.20 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last posted 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 for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’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 earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS 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. Shareholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Evercore ISI upped their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Finally, Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $187.31.

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.