Simon Property Group, Inc. $SPG Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,709 shares of the real estate investment trust’s stock after selling 10,497 shares during the period. IFM Investors Pty Ltd’s holdings in Simon Property Group were worth $20,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC raised its position in shares of Simon Property Group by 8.8% during the 1st quarter. Intech Investment Management LLC now owns 31,926 shares of the real estate investment trust’s stock worth $5,302,000 after purchasing an additional 2,572 shares during the last quarter. Focus Partners Wealth raised its position in shares of Simon Property Group by 89.0% during the 1st quarter. Focus Partners Wealth now owns 114,156 shares of the real estate investment trust’s stock worth $18,959,000 after purchasing an additional 53,764 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Simon Property Group by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,636,637 shares of the real estate investment trust’s stock worth $603,973,000 after purchasing an additional 225,518 shares during the last quarter. Palogic Value Management L.P. raised its position in shares of Simon Property Group by 7.9% during the 1st quarter. Palogic Value Management L.P. now owns 8,798 shares of the real estate investment trust’s stock worth $1,461,000 after purchasing an additional 641 shares during the last quarter. Finally, Zimmer Partners LP raised its position in shares of Simon Property Group by 250.0% during the 1st quarter. Zimmer Partners LP now owns 87,500 shares of the real estate investment trust’s stock worth $14,532,000 after purchasing an additional 62,500 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG opened at $179.41 on Wednesday. The firm has a market cap of $58.58 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 11.05 and a beta of 1.50. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company’s 50-day moving average price is $169.78 and its 200 day moving average price is $164.33. 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 released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. Simon Property Group’s quarterly 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, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $2.15 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group’s payout ratio is currently 132.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SPG shares. Truist Financial lifted their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. 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 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Mizuho reduced their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $184.92.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 522 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares of the company’s stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry C. Glasscock acquired 396 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director directly owned 43,185 shares of the company’s stock, valued at approximately $6,878,938.65. This represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,428 shares of company stock worth $387,271 in the last quarter. 8.60% of the stock is currently owned by corporate insiders.

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.