Vanguard Group Inc. Grows Position in Simon Property Group, Inc. $SPG

Vanguard Group Inc. increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 45,839,312 shares of the real estate investment trust’s stock after buying an additional 149,314 shares during the quarter. Vanguard Group Inc. owned about 0.14% of Simon Property Group worth $7,369,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Simon Property Group during the 1st quarter valued at about $724,937,000. Goldman Sachs Group Inc. lifted its position in Simon Property Group by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after purchasing an additional 604,016 shares during the period. Resolution Capital Ltd lifted its position in Simon Property Group by 45.8% during the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after purchasing an additional 565,084 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Simon Property Group in the second quarter worth approximately $68,013,000. Finally, Acadian Asset Management LLC grew its position in Simon Property Group by 354.5% in the 1st quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust’s stock worth $88,115,000 after purchasing an additional 413,871 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. 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. Scotiabank increased their target price on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.31.

Insider Buying and Selling at Simon Property Group

In other news, Director Glyn Aeppel acquired 208 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, for a total transaction of $38,677.60. Following the completion of the transaction, the director directly owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel C. Smith bought 335 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 $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 2,121 shares of company stock worth $394,400. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Up 0.5%

Shares of SPG stock opened at $181.85 on Wednesday. The company’s fifty day moving average price is $180.76 and its 200-day moving average price is $170.97. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company has a market capitalization of $59.37 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 12.73 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 (NYSE:SPG) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Sell-side analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

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

Simon Property Group 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.