111 Capital Buys 3,726 Shares of Simon Property Group, Inc. $SPG

111 Capital grew its position in Simon Property Group, Inc. (NYSE:SPG) by 83.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,183 shares of the real estate investment trust’s stock after acquiring an additional 3,726 shares during the quarter. 111 Capital’s holdings in Simon Property Group were worth $1,315,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. lifted its position in shares of Simon Property Group by 0.6% in the 2nd quarter. QRG Capital Management Inc. now owns 212,123 shares of the real estate investment trust’s stock worth $34,101,000 after acquiring an additional 1,321 shares during the period. Ameritas Advisory Services LLC bought a new position in Simon Property Group in the second quarter worth $141,000. Vanderbilt University lifted its position in Simon Property Group by 12.1% in the second quarter. Vanderbilt University now owns 29,241 shares of the real estate investment trust’s stock worth $4,701,000 after purchasing an additional 3,157 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in shares of Simon Property Group by 9.4% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 39,838 shares of the real estate investment trust’s stock worth $6,404,000 after acquiring an additional 3,432 shares during the period. Finally, Hilltop National Bank bought a new position in shares of Simon Property Group during the 2nd quarter worth about $192,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $185.58 on Friday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The firm has a 50 day moving average of $176.78 and a 200-day moving average of $165.50. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 11.20 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $2.90 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm 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 a positive change from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 132.92%.

Insiders Place Their Bets

In related news, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glyn Aeppel acquired 208 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 19,265 shares in the company, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock valued at $401,605 over the last three months. Company insiders own 8.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPG. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective for the company. Truist Financial raised their target price 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. Evercore ISI restated an “in-line” rating and set a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Argus restated a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Finally, Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price objective for the company. in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and a consensus price target of $186.46.

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.