TBH Global Asset Management LLC Trims Stake in Simon Property Group, Inc. $SPG

TBH Global Asset Management LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,954 shares of the real estate investment trust’s stock after selling 86 shares during the quarter. TBH Global Asset Management LLC’s holdings in Simon Property Group were worth $796,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its holdings 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 acquiring an additional 81 shares during the period. Richardson Financial Services Inc. boosted its stake in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC grew its position in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 95 shares during the period. Finally, WPG Advisers LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at about $47,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $185.29 on Friday. The firm has a market capitalization of $60.50 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 11.23 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. The business’s 50 day simple moving average is $174.72 and its 200-day simple moving average is $164.71. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13.

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, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is currently 132.92%.

Insider Activity

In related news, Director Larry C. Glasscock acquired 396 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the transaction, the director directly owned 43,185 shares of the company’s stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary M. Rodkin bought 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the purchase, the director owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,428 shares of company stock worth $387,271 in the last three months. Company insiders own 8.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 target price on the stock. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, Scotiabank increased their target price on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $186.46.

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.