Schulhoff & Co. Inc. raised its position in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,564 shares of the real estate investment trust’s stock after purchasing an additional 165 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Simon Property Group were worth $573,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of SPG. Nuveen LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at about $724,937,000. Principal Financial Group Inc. increased its position in shares of Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust’s stock valued at $532,529,000 after acquiring an additional 1,830,264 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Simon Property Group in the first quarter valued at about $197,377,000. Goldman Sachs Group Inc. increased its position in shares of Simon Property Group by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after acquiring an additional 604,016 shares during the last quarter. Finally, Resolution Capital Ltd increased its position in shares of Simon Property Group by 45.8% in the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock valued at $298,873,000 after acquiring an additional 565,084 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on SPG shares. Stifel Nicolaus cut Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Piper Sandler lifted their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Truist Financial lifted their price target 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, Argus reiterated a “buy” rating and set a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $187.31.
Simon Property Group Trading Up 0.2%
Shares of NYSE:SPG opened at $178.79 on Wednesday. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The stock has a market cap of $58.37 billion, a PE ratio of 27.63, a P/E/G ratio of 13.09 and a beta of 1.50. The business has a 50 day moving average of $179.65 and a 200-day moving average of $166.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.
Simon Property Group (NYSE:SPG – Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $2.15 dividend. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is presently 132.92%.
Insiders Place Their Bets
In related news, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the purchase, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan M. Selig acquired 195 shares of the 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 $36,260.25. Following the completion of the transaction, the director owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,163 shares of company stock valued at $401,605 in the last quarter. 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.
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