Hazelview Securities Inc. Acquires 122,060 Shares of Simon Property Group, Inc. $SPG

Hazelview Securities Inc. grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7,774.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,630 shares of the real estate investment trust’s stock after purchasing an additional 122,060 shares during the period. Simon Property Group comprises approximately 3.6% of Hazelview Securities Inc.’s holdings, making the stock its 16th largest holding. Hazelview Securities Inc.’s holdings in Simon Property Group were worth $20,207,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SPG. Norges Bank purchased a new position in Simon Property Group in the 2nd quarter worth about $1,051,262,000. JPMorgan Chase & Co. boosted its position in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after buying an additional 1,660,188 shares during the period. Resolution Capital Ltd grew its stake in Simon Property Group by 45.8% in the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after acquiring an additional 565,084 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Simon Property Group during the second quarter worth approximately $68,013,000. Finally, Acadian Asset Management LLC increased its position in shares of Simon Property Group by 354.5% during the first quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust’s stock worth $88,115,000 after acquiring an additional 413,871 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Daniel C. Smith bought 335 shares of Simon Property Group 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 $62,293.25. Following the transaction, the director directly owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary M. Rodkin purchased 219 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 2,121 shares of company stock valued at $394,400. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

SPG opened at $181.98 on Friday. The firm has a market capitalization of $59.41 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 8.86 and a beta of 1.37. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50-day moving average is $180.56 and its two-hundred day moving average is $173.48. 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, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $2.20 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is presently 128.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPG. Barclays boosted their price target on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 18th. Piper Sandler upped their target price on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Scotiabank increased their price target on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Stifel Nicolaus raised their price target on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, Citigroup upped their price objective on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $189.93.

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.