Simon Property Group, Inc. $SPG Stock Position Raised by Nordea Investment Management AB

Nordea Investment Management AB increased its position in Simon Property Group, Inc. (NYSE:SPG) by 10.2% in the third quarter, HoldingsChannel reports. The firm owned 32,810 shares of the real estate investment trust’s stock after acquiring an additional 3,029 shares during the period. Nordea Investment Management AB’s holdings in Simon Property Group were worth $6,113,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC grew its holdings in shares of Simon Property Group by 0.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 66 shares in the last quarter. PFS Partners LLC grew its stake in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 68 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Simon Property Group by 1.9% in the second quarter. Wealth Alliance LLC now owns 3,845 shares of the real estate investment trust’s stock worth $618,000 after purchasing an additional 70 shares in the last quarter. SageView Advisory Group LLC grew its position in Simon Property Group by 3.5% during the second quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 71 shares in the last quarter. Finally, William Allan Corp boosted its stake in shares of Simon Property Group by 2.8% during the 3rd quarter. William Allan Corp now owns 2,744 shares of the real estate investment trust’s stock valued at $515,000 after buying an additional 76 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other news, Director Daniel C. Smith acquired 347 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, with a total value of $64,542.00. Following the acquisition, the director owned 32,680 shares of the company’s stock, valued at $6,078,480. This trade represents a 1.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glyn Aeppel bought 216 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $186.00 per share, with a total value of $40,176.00. Following the completion of the purchase, the director directly owned 19,481 shares of the company’s stock, valued at $3,623,466. This represents a 1.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 2,192 shares of company stock valued at $407,712 in the last three months. Company insiders own 8.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research report on Wednesday, December 17th. Mizuho set a $192.00 target price on shares of Simon Property Group in a research note on Friday, January 9th. Piper Sandler upped their price objective on shares of Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Morgan Stanley set a $205.00 target price on Simon Property Group in a report on Friday. Finally, Scotiabank upped their price target on Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $193.85.

Simon Property Group Trading Up 1.4%

Simon Property Group stock opened at $184.94 on Friday. The firm 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. The business’s 50-day simple moving average is $184.11 and its 200-day simple moving average is $177.98. The company has a debt-to-equity ratio of 9.59, a quick ratio of 1.44 and a current ratio of 1.44. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business posted $3.05 EPS. The company’s revenue for the quarter 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. 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 disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s payout ratio is presently 128.09%.

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.