DekaBank Deutsche Girozentrale Has $40.38 Million Position in Simon Property Group, Inc. $SPG

DekaBank Deutsche Girozentrale cut its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 253,389 shares of the real estate investment trust’s stock after selling 698 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Simon Property Group were worth $40,379,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new position in shares of Simon Property Group during the 2nd quarter worth about $25,000. Park Square Financial Group LLC raised its stake in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. boosted its holdings in Simon Property Group by 185.0% in 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. Continuum Advisory LLC boosted its holdings in Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Simon Property Group in the first quarter valued at approximately $47,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Simon Property Group news, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director directly owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Larry C. Glasscock bought 351 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock valued at $401,605 over the last quarter. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $178.79 on Wednesday. The company has a fifty day moving average price of $179.65 and a 200-day moving average price of $166.71. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 13.09 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. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13.

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

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $2.15 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is currently 132.92%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SPG shares. Piper Sandler upped their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Stifel Nicolaus downgraded 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, September 2nd. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Argus reissued a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $187.31.

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.