Simon Property Group, Inc. $SPG Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,840 shares of the real estate investment trust’s stock after selling 195 shares during the period. International Assets Investment Management LLC’s holdings in Simon Property Group were worth $457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SPG. Vanguard Group Inc. increased its holdings 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 valued at $7,588,195,000 after acquiring an additional 267,503 shares in the last quarter. Northern Trust Corp increased its stake in shares of Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Simon Property Group by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC purchased a new stake in Simon Property Group in the 1st quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Simon Property Group by 0.7% during 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 buying an additional 23,873 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In related news, Director Glyn Aeppel purchased 208 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the transaction, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock valued at $401,605 in the last quarter. Insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $178.79 on Wednesday. The company has a market cap of $58.37 billion, a P/E ratio of 27.63, a P/E/G ratio of 13.09 and a beta of 1.50. The business has a fifty day simple moving average of $179.65 and a 200-day simple moving average of $166.71. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This is a positive change 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 payout ratio is presently 132.92%.

Analysts Set New Price Targets

SPG has been the subject of several recent research reports. Argus reissued a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research report on Friday, September 5th. Barclays increased 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. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Finally, Truist Financial raised their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $187.31.

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.