Quantum Portfolio Management LLC Buys 2,937 Shares of Simon Property Group, Inc. $SPG

Quantum Portfolio Management LLC lifted its position in Simon Property Group, Inc. (NYSE:SPG) by 51.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,618 shares of the real estate investment trust’s stock after purchasing an additional 2,937 shares during the quarter. Quantum Portfolio Management LLC’s holdings in Simon Property Group were worth $1,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in Simon Property Group during the fourth quarter worth about $295,000. Swedbank AB boosted its holdings in shares of Simon Property Group by 5.6% in the 2nd quarter. Swedbank AB now owns 137,950 shares of the real estate investment trust’s stock worth $22,177,000 after acquiring an additional 7,296 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Simon Property Group by 23.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,923 shares of the real estate investment trust’s stock worth $5,323,000 after acquiring an additional 6,069 shares in the last quarter. Global X Japan Co. Ltd. grew its position in Simon Property Group by 26.7% during the 2nd quarter. Global X Japan Co. Ltd. now owns 1,036 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 218 shares during the last quarter. Finally, CX Institutional increased its holdings in Simon Property Group by 23.3% during the 2nd quarter. CX Institutional now owns 1,654 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Simon Property Group stock opened at $184.94 on Monday. The business’s 50-day simple moving average is $184.11 and its 200 day simple moving average is $178.07. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock has a market cap of $60.38 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 8.81 and a beta of 1.37. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a $2.20 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. Simon Property Group’s payout ratio is 128.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group boosted their price objective on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Evercore ISI lifted their price target on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Stifel Nicolaus upped their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Mizuho set a $192.00 price objective on shares of Simon Property Group in a research report on Friday, January 9th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.85.

Insider Activity

In related news, Director Stefan M. Selig acquired 201 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average cost of $186.00 per share, with a total value of $37,386.00. Following the completion of the purchase, the director directly owned 32,277 shares in the company, valued at approximately $6,003,522. This trade represents a 0.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reuben S. Leibowitz bought 480 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director directly owned 53,639 shares of the company’s stock, valued at approximately $9,976,854. This trade represents a 0.90% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 2,192 shares of company stock worth $407,712. Corporate insiders own 8.66% of the company’s stock.

Simon Property Group Profile

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.