Pacific Heights Asset Management LLC Increases Stake in Simon Property Group, Inc. $SPG

Pacific Heights Asset Management LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 25.0% in the third quarter, Holdings Channel reports. The firm owned 125,000 shares of the real estate investment trust’s stock after acquiring an additional 25,000 shares during the quarter. Simon Property Group accounts for 1.0% of Pacific Heights Asset Management LLC’s holdings, making the stock its 25th biggest holding. Pacific Heights Asset Management LLC’s holdings in Simon Property Group were worth $23,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Simon Property Group by 68.8% during the second quarter. Federated Hermes Inc. now owns 124,912 shares of the real estate investment trust’s stock valued at $20,081,000 after purchasing an additional 50,932 shares in the last quarter. Highland Capital Management LLC bought a new stake in Simon Property Group in the 2nd quarter worth about $1,196,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position 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 buying an additional 9,267 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Simon Property Group by 740.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock valued at $28,546,000 after acquiring an additional 156,448 shares during the period. Finally, Capital Advisors Inc. OK boosted its holdings in shares of Simon Property Group by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 393,756 shares of the real estate investment trust’s stock valued at $63,300,000 after acquiring an additional 2,064 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPG. Truist Financial increased their price objective on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Citigroup raised their price target on Simon Property Group from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Morgan Stanley set a $205.00 price objective on Simon Property Group in a report on Friday. Finally, 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 report on Friday, October 17th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $193.85.

Simon Property Group Stock Up 1.4%

SPG opened at $184.94 on Tuesday. The firm’s 50 day simple moving average is $184.15 and its two-hundred day simple moving average is $178.20. The company has a market capitalization of $60.38 billion, a PE ratio of 26.92, a PEG ratio of 8.81 and a beta of 1.37. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business posted $3.05 EPS. Simon Property Group’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Insider Activity

In related news, Director Reuben S. Leibowitz acquired 480 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the purchase, the director owned 53,639 shares in the company, valued at $9,976,854. The trade was a 0.90% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glyn Aeppel bought 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 acquisition, the director directly owned 19,481 shares in the company, valued at $3,623,466. This represents a 1.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 2,192 shares of company stock worth $407,712. 8.60% of the stock is currently owned by corporate insiders.

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.