Vanguard Personalized Indexing Management LLC Purchases 8,406 Shares of Simon Property Group, Inc. $SPG

Vanguard Personalized Indexing Management LLC raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,272 shares of the real estate investment trust’s stock after acquiring an additional 8,406 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Simon Property Group were worth $7,439,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC raised its position in Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital raised its position in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC raised its position in Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 70 shares in the last quarter. Finally, Aspiriant LLC raised its position in Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 74 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $62,293.25. Following the acquisition, the director owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin acquired 219 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the acquisition, the director owned 19,229 shares in the company, valued at approximately $3,575,632.55. This represents a 1.15% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on SPG shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simon Property Group in a report on Saturday, September 27th. Truist Financial raised their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Scotiabank raised their price objective on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Piper Sandler raised their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. 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, the stock presently has an average rating of “Hold” and a consensus target price of $187.23.

Simon Property Group Stock Down 1.9%

NYSE:SPG opened at $175.39 on Monday. The stock’s fifty day moving average price is $178.12 and its two-hundred day moving average price is $165.94. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $57.26 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 10.62 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $2.90 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.9%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Simon Property Group 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.