Simon Property Group, Inc. $SPG Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 96.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232 shares of the real estate investment trust’s stock after selling 6,333 shares during the quarter. AlphaQuest LLC’s holdings in Simon Property Group were worth $39,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Simon Property Group by 0.6% in the first 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 raised its holdings in 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 acquiring an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 141,657 shares in the last quarter. Nuveen LLC acquired a new stake in Simon Property Group in the first quarter valued at approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Simon Property Group by 0.7% in the first 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 acquiring an additional 23,873 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 246 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry C. Glasscock bought 396 shares of the 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 $63,078.84. Following the completion of the transaction, the director owned 43,185 shares of the company’s stock, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,428 shares of company stock valued at $387,271. 8.66% of the stock is owned by company insiders.

Simon Property Group Stock Performance

Shares of SPG opened at $181.53 on Friday. 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 firm has a market cap of $59.27 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 10.89 and a beta of 1.50. The company’s 50 day simple moving average is $168.61 and its 200-day simple moving average is $164.56. 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 announced its 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $2.90 earnings per share. 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 year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. Simon Property Group’s payout ratio is 129.83%.

Analyst Ratings Changes

SPG has been the topic of several analyst reports. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a report on Tuesday. Finally, Barclays initiated coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an “equal weight” rating and a $170.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and an average target price of $184.91.

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.