QRG Capital Management Inc. Sells 97,719 Shares of Simon Property Group, Inc. $SPG

QRG Capital Management Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 46.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,404 shares of the real estate investment trust’s stock after selling 97,719 shares during the quarter. QRG Capital Management Inc.’s holdings in Simon Property Group were worth $21,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPG. Brighton Jones LLC bought a new position in Simon Property Group in the 4th quarter worth about $295,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Simon Property Group by 6.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,437 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 81 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Simon Property Group by 199.5% during the second quarter. Pallas Capital Advisors LLC now owns 3,786 shares of the real estate investment trust’s stock valued at $609,000 after purchasing an additional 2,522 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Simon Property Group by 19.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,102 shares of the real estate investment trust’s stock valued at $654,000 after buying an additional 661 shares during the period. Finally, Swedbank AB lifted its stake in shares of Simon Property Group by 5.6% during the 2nd quarter. Swedbank AB now owns 137,950 shares of the real estate investment trust’s stock worth $22,177,000 after purchasing an additional 7,296 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho set a $192.00 price target on shares of Simon Property Group in a report on Friday, January 9th. Citigroup increased their price target on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. UBS Group increased their price objective on shares of Simon Property Group from $180.00 to $189.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Piper Sandler boosted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $193.85.

Simon Property Group Stock Up 1.4%

NYSE:SPG opened at $184.94 on Friday. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $184.11 and its 200-day moving average price is $177.89. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The firm has a market capitalization of $60.38 billion, a P/E ratio of 26.92, a PEG ratio of 8.68 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results 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 company 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%.During the same quarter in the prior year, the firm posted $3.05 EPS. Simon Property Group’s quarterly revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Gary M. Rodkin purchased 226 shares of the stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $186.00 per share, with a total value of $42,036.00. Following the completion of the purchase, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. The trade was a 1.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Glyn Aeppel acquired 216 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $40,176.00. Following the completion of the purchase, the director owned 19,481 shares in the company, valued at $3,623,466. The trade was a 1.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 2,192 shares of company stock valued at $407,712. 8.66% of the stock is owned by corporate insiders.

About Simon Property Group

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.