J. Safra Sarasin Holding AG Trims Holdings in Simon Property Group, Inc. $SPG

J. Safra Sarasin Holding AG trimmed its position in Simon Property Group, Inc. (NYSE:SPG) by 61.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,643 shares of the real estate investment trust’s stock after selling 5,840 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Simon Property Group were worth $586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 789 shares in the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $283,000. Golden State Wealth Management LLC increased its holdings in Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 509 shares in the last quarter. Focus Partners Wealth increased its holdings in Simon Property Group by 89.0% in the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock worth $18,959,000 after acquiring an additional 53,764 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in Simon Property Group by 5.7% in the 1st quarter. Inspire Investing LLC now owns 32,259 shares of the real estate investment trust’s stock worth $5,358,000 after acquiring an additional 1,750 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler upped their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $186.46.

Insider Activity

In other news, Director Glyn Aeppel bought 208 shares of the stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry C. Glasscock bought 351 shares of the stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Stock Up 0.3%

NYSE SPG opened at $185.58 on Friday. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a P/E/G ratio of 11.22 and a beta of 1.50. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The stock has a 50 day moving average price of $176.78 and a 200-day moving average price of $165.50.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS. 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 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

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.