Handelsbanken Fonder AB Sells 27,668 Shares of Simon Property Group, Inc. $SPG

Handelsbanken Fonder AB trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,267 shares of the real estate investment trust’s stock after selling 27,668 shares during the quarter. Handelsbanken Fonder AB’s holdings in Simon Property Group were worth $25,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Simon Property Group during the 2nd quarter valued at $25,000. VSM Wealth Advisory LLC purchased a new position in shares of Simon Property Group in the 2nd quarter worth about $30,000. Bell Investment Advisors Inc grew its position in Simon Property Group by 205.6% during the second quarter. Bell Investment Advisors Inc now owns 217 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 146 shares during the period. Clearstead Trust LLC grew its position in Simon Property Group by 68.4% during the second quarter. Clearstead Trust LLC now owns 266 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 108 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Simon Property Group during the first quarter worth about $47,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In related news, Director Gary M. Rodkin bought 219 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,121 shares of company stock worth $394,400 in the last three months. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Stock Performance

Shares of SPG stock opened at $183.29 on Friday. The firm’s 50 day moving average is $180.71 and its 200 day moving average is $171.25. The stock has a market capitalization of $59.84 billion, a P/E ratio of 28.33, a PEG ratio of 12.73 and a beta of 1.50. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is presently 128.09%.

Analysts Set New Price Targets

SPG has been the topic of a number of research analyst reports. Scotiabank boosted their target price on shares of Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Truist Financial lifted their price target on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Argus reiterated a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. Evercore ISI increased their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $190.31.

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.