Banco Bilbao Vizcaya Argentaria S.A. Sells 1,315 Shares of Simon Property Group, Inc. $SPG

Banco Bilbao Vizcaya Argentaria S.A. lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,460 shares of the real estate investment trust’s stock after selling 1,315 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Simon Property Group were worth $6,342,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new position in Simon Property Group in the 2nd quarter worth approximately $25,000. Richardson Financial Services Inc. lifted 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 worth $28,000 after acquiring an additional 111 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of Simon Property Group by 68.4% in the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 108 shares during the period. WPG Advisers LLC purchased a new position in shares of Simon Property Group in the first quarter valued at $47,000. Finally, TCTC Holdings LLC raised its stake in shares of Simon Property Group by 93.5% during the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 0.5%

Shares of SPG opened at $182.66 on Friday. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a market capitalization of $59.63 billion, a P/E ratio of 28.23, a P/E/G 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 firm’s 50 day simple moving average is $180.74 and its 200 day simple moving average is $170.58.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is presently 128.09%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Stifel Nicolaus raised their target price on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Evercore ISI raised their price objective on shares of 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. Morgan Stanley boosted their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Piper Sandler increased their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $189.85.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel C. Smith bought 335 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 $62,293.25. Following the transaction, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 2,121 shares of company stock worth $394,400. Company insiders own 8.66% of the company’s stock.

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.