OVERSEA CHINESE BANKING Corp Ltd Has $9.62 Million Stake in Simon Property Group, Inc. $SPG

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 59,843 shares of the real estate investment trust’s stock after selling 2,140 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Simon Property Group were worth $9,620,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Simon Property Group in the second quarter valued at about $25,000. Park Square Financial Group LLC grew its position in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. grew its position in shares of 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 valued at $28,000 after purchasing an additional 111 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at about $47,000. Finally, TCTC Holdings LLC grew its position in shares of Simon Property Group by 93.5% in the first 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 last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SPG. JPMorgan Chase & Co. raised their price target on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Scotiabank raised their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Piper Sandler raised their price target on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Morgan Stanley lifted their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $187.31.

Simon Property Group Stock Down 0.2%

SPG stock opened at $178.27 on Monday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a market cap of $58.20 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 13.06 and a beta of 1.50. The business’s 50-day simple moving average is $180.03 and its 200 day simple moving average is $167.60. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $2.15 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 132.92%.

Insider Activity

In other Simon Property Group news, Director Glyn Aeppel purchased 208 shares of the business’s 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 $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,163 shares of company stock valued at $401,605. 8.60% of the stock is owned by company insiders.

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.