Simon Property Group, Inc. $SPG Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its position in Simon Property Group, Inc. (NYSE:SPG) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,950 shares of the real estate investment trust’s stock after selling 236 shares during the quarter. Securian Asset Management Inc.’s holdings in Simon Property Group were worth $2,564,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Simon Property Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust’s stock valued at $7,588,195,000 after purchasing an additional 267,503 shares during the last quarter. Northern Trust Corp raised its stake in Simon Property Group by 1.8% in the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock valued at $923,236,000 after purchasing an additional 96,126 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Simon Property Group by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock valued at $805,853,000 after purchasing an additional 141,657 shares during the last quarter. Nuveen LLC acquired a new position in Simon Property Group in the 1st quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Simon Property Group by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,661,402 shares of the real estate investment trust’s stock valued at $608,086,000 after purchasing an additional 23,873 shares during the last quarter. 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 Larry C. Glasscock bought 351 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the purchase, the director owned 19,265 shares in the company, valued at $3,582,326.75. This represents a 1.09% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,163 shares of company stock worth $401,605. Insiders own 8.60% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $178.79 on Wednesday. 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 company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock has a fifty day simple moving average of $179.65 and a 200-day simple moving average of $166.71.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The business 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 company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent research reports. Evercore ISI increased their price objective on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research note on Friday. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Piper Sandler upped their target price on Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th. Finally, LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.31.

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.