Banco Santander S.A. Sells 6,590 Shares of Simon Property Group, Inc. $SPG

Banco Santander S.A. lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,050 shares of the real estate investment trust’s stock after selling 6,590 shares during the quarter. Banco Santander S.A.’s holdings in Simon Property Group were worth $22,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in Simon Property Group during the 2nd quarter valued at $25,000. Park Square Financial Group LLC grew its stake in shares of Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Richardson Financial Services Inc. grew its stake in shares of Simon Property Group by 185.0% in the 1st 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. WPG Advisers LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth $47,000. Finally, TCTC Holdings LLC grew its stake in shares of Simon Property Group by 93.5% in the 1st quarter. TCTC Holdings LLC now owns 385 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPG. Piper Sandler upped their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Truist Financial upped their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research note on Monday, August 25th. Barclays upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Stifel Nicolaus lowered shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Finally, 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. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $187.31.

Insider Buying and Selling

In related news, Director Gary M. Rodkin purchased 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $40,723.05. Following the acquisition, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the acquisition, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,163 shares of company stock worth $401,605 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $178.27 on Monday. The company’s 50-day moving average is $180.03 and its 200 day moving average is $167.60. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $58.20 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 13.06 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.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s payout ratio is presently 132.92%.

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.