Mirae Asset Global Investments Co. Ltd. Purchases 8,965 Shares of Simon Property Group, Inc. $SPG

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,720 shares of the real estate investment trust’s stock after acquiring an additional 8,965 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Simon Property Group were worth $12,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPG. Federated Hermes Inc. raised its holdings in Simon Property Group by 68.8% in the second quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock worth $20,081,000 after buying an additional 50,932 shares during the last quarter. Highland Capital Management LLC bought a new stake in Simon Property Group in the 2nd quarter worth approximately $1,196,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Simon Property Group by 8.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock worth $22,482,000 after acquiring an additional 9,267 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Simon Property Group by 740.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after purchasing an additional 156,448 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in Simon Property Group by 10.9% during the third quarter. Resona Asset Management Co. Ltd. now owns 197,455 shares of the real estate investment trust’s stock valued at $36,785,000 after buying an additional 19,482 shares during the period. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling

In other Simon Property Group news, Director Gary M. Rodkin acquired 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, for a total transaction of $42,036.00. Following the purchase, the director owned 19,455 shares in the company, valued at approximately $3,618,630. The trade was a 1.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reuben S. Leibowitz bought 480 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $89,280.00. Following the completion of the transaction, the director directly owned 53,639 shares of the company’s stock, valued at $9,976,854. This trade represents a 0.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 2,192 shares of company stock worth $407,712 over the last ninety days. Company insiders own 8.66% of the company’s stock.

Simon Property Group Trading Up 0.8%

Shares of NYSE SPG opened at $191.34 on Friday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $192.25. The firm has a market cap of $62.47 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 7.04 and a beta of 1.37. The business has a fifty day simple moving average of $184.80 and a two-hundred day simple moving average of $179.40. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 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 the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, December 10th. Simon Property Group’s dividend payout ratio is 128.09%.

Analyst Upgrades and Downgrades

SPG has been the topic of several analyst reports. Citigroup lifted their target price on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Tuesday, January 20th. Morgan Stanley set a $205.00 target price on Simon Property Group in a report on Friday, January 16th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research report on Friday, January 9th. Finally, Mizuho set a $192.00 price objective on Simon Property Group in a research note on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $194.64.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.