Hamlin Capital Management LLC Purchases 155,219 Shares of Simon Property Group, Inc. $SPG

Hamlin Capital Management LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 19.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 970,126 shares of the real estate investment trust’s stock after acquiring an additional 155,219 shares during the period. Simon Property Group comprises approximately 4.1% of Hamlin Capital Management LLC’s holdings, making the stock its 8th biggest holding. Hamlin Capital Management LLC’s holdings in Simon Property Group were worth $182,064,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Colonial Trust Co SC grew its position in shares of Simon Property Group by 25.7% in the third quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 65 shares during the period. Howard Capital Management Inc. boosted its stake in Simon Property Group by 3.1% in the 3rd quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 66 shares during the last quarter. TIAA Trust National Association grew its holdings in Simon Property Group by 3.9% in the 3rd quarter. TIAA Trust National Association now owns 1,774 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 67 shares during the period. SageView Advisory Group LLC increased its stake in shares of Simon Property Group by 3.5% during the 2nd quarter. SageView Advisory Group LLC now owns 2,080 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 71 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its stake in shares of Simon Property Group by 8.4% during the 3rd quarter. Y.D. More Investments Ltd now owns 959 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPG. Evercore raised their target price on shares of Simon Property Group from $188.00 to $198.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 3rd. Citigroup lifted their price target on shares of Simon Property Group from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Friday, January 9th. Scotiabank increased their target price on Simon Property Group from $186.00 to $189.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on Simon Property Group from $198.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $199.36.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock acquired 363 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the completion of the purchase, the director directly owned 43,899 shares in the company, valued at $8,165,214. This trade represents a 0.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glyn Aeppel bought 216 shares of the firm’s 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 $40,176.00. Following the transaction, the director directly owned 19,481 shares of the company’s stock, valued at approximately $3,623,466. This trade represents a 1.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,192 shares of company stock worth $407,712 in the last quarter. 8.60% of the stock is owned by corporate insiders.

Simon Property Group Trading Down 0.4%

NYSE SPG opened at $186.78 on Monday. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $205.12. The company’s 50 day moving average price is $192.26 and its 200 day moving average price is $185.61. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $60.69 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 6.16 and a beta of 1.35.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.02. Simon Property Group had a net margin of 72.71% and a return on equity of 124.12%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $3.68 earnings per share. Simon Property Group’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.000-13.250 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio is 62.06%.

Simon Property Group declared that its board has approved a stock repurchase program on Thursday, February 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.