Renaissance Group LLC Sells 282 Shares of Simon Property Group, Inc. $SPG

Renaissance Group LLC cut its stake in Simon Property Group, Inc. (NYSE:SPG) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,998 shares of the real estate investment trust’s stock after selling 282 shares during the period. Renaissance Group LLC’s holdings in Simon Property Group were worth $1,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highland Capital Management LLC bought a new stake in shares of Simon Property Group during the second quarter valued at approximately $1,196,000. Capital Advisors Inc. OK boosted its stake in Simon Property Group by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock worth $63,300,000 after buying an additional 2,064 shares in the last quarter. Nordea Investment Management AB increased its holdings in Simon Property Group by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 29,781 shares of the real estate investment trust’s stock valued at $4,731,000 after buying an additional 1,607 shares during the period. MinichMacGregor Wealth Management LLC bought a new stake in Simon Property Group in the 2nd quarter valued at $283,000. Finally, Geode Capital Management LLC raised its stake in shares of Simon Property Group by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock valued at $1,536,565,000 after buying an additional 127,636 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. Barclays lifted their target price on shares of Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday. Argus restated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a research note on Friday, September 5th. Evercore ISI upped their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Truist Financial increased their target price on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Piper Sandler boosted their price target on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.31.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $180.26 on Thursday. The stock has a market capitalization of $58.85 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 12.73 and a beta of 1.50. The firm’s 50-day moving average price is $180.78 and its two-hundred day moving average price is $171.04. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. 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 announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, topping the consensus estimate 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 return on equity of 72.38% and a net margin of 36.78%.Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. Simon Property Group’s dividend payout ratio is 128.09%.

Insiders Place Their Bets

In related news, Director Daniel C. Smith bought 335 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glyn Aeppel purchased 208 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director directly owned 19,265 shares of the company’s stock, valued at $3,582,326.75. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,121 shares of company stock valued at $394,400 over the last three months. Company insiders own 8.60% of the company’s stock.

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.