Simon Property Group, Inc. $SPG Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. decreased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 15,950 shares of the real estate investment trust’s stock after selling 236 shares during the period. Securian Asset Management Inc.’s holdings in Simon Property Group were worth $2,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares in the last quarter. Northern Trust Corp raised its position in Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. raised its position in Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares in the last quarter. Nuveen LLC acquired a new stake in Simon Property Group in the 1st quarter valued at about $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its position in Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after purchasing an additional 23,873 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In related news, Director Glyn Aeppel bought 208 shares of the stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the purchase, the director owned 19,265 shares of the company’s stock, valued at $3,582,326.75. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 335 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the purchase, the director directly 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 disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock worth $401,605 over the last ninety days. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SPG has been the topic of a number of analyst reports. Barclays increased their price target on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Argus reissued a “buy” rating and set a $185.00 target price on shares of Simon Property Group in a research report on Friday, September 5th. Scotiabank raised their target price on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Finally, Evercore ISI raised their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.31.

Simon Property Group Trading Up 0.2%

NYSE:SPG opened at $178.79 on Wednesday. The stock’s 50 day moving average price is $179.65 and its 200 day moving average price is $166.71. The company has a market capitalization of $58.37 billion, a PE ratio of 27.63, a P/E/G ratio of 13.09 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is 132.92%.

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.