Penserra Capital Management LLC Trims Stake in Simon Property Group, Inc. $SPG

Penserra Capital Management LLC decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 80.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,775 shares of the real estate investment trust’s stock after selling 7,515 shares during the period. Penserra Capital Management LLC’s holdings in Simon Property Group were worth $285,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 267,503 shares during the period. Northern Trust Corp raised its holdings in shares of Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after buying an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after buying an additional 141,657 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Simon Property Group during the first quarter worth about $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Simon Property Group by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after buying an additional 23,873 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $183.90 on Thursday. The firm has a market capitalization of $60.04 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 12.73 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’s 50 day simple moving average is $180.69 and its 200-day simple moving average is $170.22. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is currently 128.09%.

Analysts Set New Price Targets

Several analysts have commented on SPG shares. Barclays upped their price objective 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. Stifel Nicolaus increased their price target on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Truist Financial lifted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research report on Monday, August 25th. Morgan Stanley upped their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, Scotiabank raised their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $188.85.

Insider Transactions at Simon Property Group

In related news, Director Gary M. Rodkin acquired 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, the director directly owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glyn Aeppel bought 208 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the purchase, the director owned 19,265 shares in the company, valued at $3,582,326.75. This represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,121 shares of company stock worth $394,400 in the last 90 days. Insiders own 8.60% of the company’s stock.

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.