Simon Property Group, Inc. $SPG Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,073 shares of the real estate investment trust’s stock after acquiring an additional 3,493 shares during the quarter. Simon Property Group makes up approximately 1.2% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 23rd largest position. Oliver Luxxe Assets LLC’s holdings in Simon Property Group were worth $7,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Simon Property Group in the third quarter valued at approximately $246,000. William Allan Corp grew its stake in Simon Property Group by 2.8% in the 3rd quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock valued at $515,000 after acquiring an additional 76 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Simon Property Group by 8.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,798 shares of the real estate investment trust’s stock worth $22,482,000 after acquiring an additional 9,267 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Simon Property Group by 40.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 37,355 shares of the real estate investment trust’s stock worth $7,010,000 after acquiring an additional 10,820 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Simon Property Group by 0.3% during the third quarter. State of Alaska Department of Revenue now owns 193,709 shares of the real estate investment trust’s stock valued at $36,352,000 after purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig bought 201 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, for a total transaction of $37,386.00. Following the acquisition, the director owned 32,277 shares of the company’s stock, valued at $6,003,522. The trade was a 0.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Reuben S. Leibowitz acquired 480 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $89,280.00. Following the transaction, the director owned 53,639 shares in the company, valued at $9,976,854. This represents a 0.90% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 2,192 shares of company stock valued at $407,712. 8.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SPG. Citigroup upped their price target on shares of Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Barclays raised their target price on Simon Property Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th. Stifel Nicolaus lifted their price target on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Finally, Piper Sandler increased their price objective 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. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.54.

Simon Property Group Stock Performance

NYSE:SPG opened at $184.60 on Friday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50 day moving average price of $183.78 and a 200 day moving average price of $177.16. The stock has a market capitalization of $60.27 billion, a P/E ratio of 26.87, a PEG ratio of 8.81 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

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.