Sumitomo Mitsui DS Asset Management Company Ltd Buys 9,267 Shares of Simon Property Group, Inc. $SPG

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Simon Property Group, Inc. (NYSE:SPG) by 8.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 119,798 shares of the real estate investment trust’s stock after acquiring an additional 9,267 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Simon Property Group were worth $22,482,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its stake 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 acquiring an additional 50,932 shares during the last quarter. Highland Capital Management LLC bought a new position in Simon Property Group during the 2nd quarter worth approximately $1,196,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Simon Property Group by 740.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 177,568 shares of the real estate investment trust’s stock worth $28,546,000 after purchasing an additional 156,448 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of Simon Property Group by 0.5% in 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 purchasing an additional 2,064 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Simon Property Group by 4.4% during the third quarter. Asset Management One Co. Ltd. now owns 620,397 shares of the real estate investment trust’s stock worth $116,430,000 after buying an additional 26,343 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.2%

Shares of NYSE:SPG opened at $184.60 on Friday. 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. The business’s 50 day simple moving average is $183.78 and its two-hundred day simple moving average is $177.04. The firm has a market cap of $60.27 billion, a P/E ratio of 26.87, a PEG ratio of 8.82 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last issued its 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. 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 analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. Simon Property Group’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. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change 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 payout ratio is 128.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SPG shares. Evercore ISI boosted their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Scotiabank boosted their price objective on Simon Property Group from $173.00 to $186.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Citigroup upped their target price on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Truist Financial lifted their target price on Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a report on Wednesday, December 17th. Finally, Piper Sandler increased their price target on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $191.54.

Insider Activity

In related news, Director Gary M. Rodkin acquired 226 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, with a total value of $42,036.00. Following the acquisition, the director owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This trade represents a 1.18% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Smith acquired 347 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of $186.00 per share, with a total value of $64,542.00. Following the completion of the purchase, the director owned 32,680 shares of the company’s stock, valued at approximately $6,078,480. The trade was a 1.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 2,192 shares of company stock valued at $407,712. 8.66% of the stock is currently owned by insiders.

Simon Property Group Company 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.