Hudson Edge Investment Partners Inc. Buys 3,432 Shares of Simon Property Group, Inc. $SPG

Hudson Edge Investment Partners Inc. lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 9.4% during the second quarter, HoldingsChannel.com reports. The firm owned 39,838 shares of the real estate investment trust’s stock after purchasing an additional 3,432 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Simon Property Group were worth $6,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock worth $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp boosted its position in shares of Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after purchasing an additional 141,657 shares in the last quarter. Nuveen LLC bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $724,937,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock worth $608,086,000 after purchasing an additional 23,873 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

NYSE SPG opened at $185.05 on Friday. The business’s fifty day moving average price is $176.41 and its 200-day moving average price is $165.35. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 11.25 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. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior 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 analysts predict 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 was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $2.15 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.6%. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPG. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Evercore ISI reaffirmed an “in-line” rating and issued a $187.00 price objective (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Argus reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday, September 5th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective 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. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $186.46.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock acquired 351 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the purchase, the director directly owned 43,536 shares of the company’s stock, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the purchase, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. This represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,163 shares of company stock worth $401,605 over the last three months. 8.66% of the stock is currently owned by 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.