Wellington Management Group LLP Trims Holdings in Simon Property Group, Inc. $SPG

Wellington Management Group LLP decreased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 914,887 shares of the real estate investment trust’s stock after selling 6,689 shares during the quarter. Wellington Management Group LLP owned about 0.28% of Simon Property Group worth $151,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 789 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $295,000. J.W. Cole Advisors Inc. purchased a new position in shares of Simon Property Group in the 1st quarter valued at approximately $895,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust’s stock valued at $9,415,000 after purchasing an additional 4,589 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Gary M. Rodkin acquired 246 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $39,185.34. Following the purchase, the director directly owned 19,010 shares of the company’s stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Reuben S. Leibowitz acquired 522 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the completion of the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock worth $387,271 over the last ninety days. 8.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SPG has been the topic of several analyst reports. Barclays initiated coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price on the stock. Stifel Nicolaus set a $179.00 target price on Simon Property Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. LADENBURG THALM/SH SH assumed coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price target for the company. Mizuho cut their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a report on Tuesday, June 10th. Finally, Piper Sandler cut their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $182.64.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $174.03 on Thursday. The firm has a market capitalization of $56.82 billion, a P/E ratio of 26.90, a PEG ratio of 10.57 and a beta of 1.48. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company’s fifty day moving average is $164.11 and its two-hundred day moving average is $164.75. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. The company 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 business’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $2.15 dividend. This represents a $8.60 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is 129.83%.

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.