Simon Property Group, Inc. $SPG Shares Sold by Axa S.A.

Axa S.A. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,592 shares of the real estate investment trust’s stock after selling 7,016 shares during the quarter. Axa S.A. owned about 0.07% of Simon Property Group worth $35,945,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new position in Simon Property Group in the 4th quarter worth about $295,000. Zions Bancorporation National Association UT bought a new position in Simon Property Group in the 1st quarter worth approximately $81,000. AIA Group Ltd acquired a new stake in Simon Property Group in the 1st quarter valued at approximately $1,827,000. Sustainable Insight Capital Management LLC raised its stake in Simon Property Group by 7.3% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 2,949 shares of the real estate investment trust’s stock valued at $490,000 after acquiring an additional 200 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Simon Property Group by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 956,469 shares of the real estate investment trust’s stock worth $158,850,000 after acquiring an additional 20,990 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Gary M. Rodkin purchased 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the completion of the acquisition, the director owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stefan M. Selig bought 195 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $36,260.25. Following the transaction, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 2,121 shares of company stock valued at $394,400. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

SPG opened at $181.16 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The firm has a market cap of $59.14 billion, a PE ratio of 26.37, a P/E/G ratio of 8.77 and a beta of 1.37. The business has a fifty day simple moving average of $180.78 and a 200-day simple moving average of $173.19. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.Simon Property Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 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 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 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. This represents a $8.80 annualized dividend and a yield of 4.9%. Simon Property Group’s dividend payout ratio (DPR) is presently 125.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPG shares. Scotiabank raised their price target on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Truist Financial boosted 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 report on Monday, August 25th. Argus reaffirmed a “buy” rating and issued a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Morgan Stanley increased 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 report on Thursday, September 11th. Finally, JPMorgan Chase & Co. boosted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $189.93.

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.