Simon Property Group, Inc. $SPG Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,592,471 shares of the real estate investment trust’s stock after acquiring an additional 127,636 shares during the quarter. Geode Capital Management LLC owned 2.94% of Simon Property Group worth $1,536,565,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SPG. Wealth Alliance LLC raised its stake 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 valued at $618,000 after acquiring an additional 70 shares in the last quarter. KBC Group NV raised its holdings in shares of Simon Property Group by 10.5% in the 2nd quarter. KBC Group NV now owns 944,783 shares of the real estate investment trust’s stock valued at $151,883,000 after purchasing an additional 89,951 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Simon Property Group by 77.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 378,139 shares of the real estate investment trust’s stock worth $60,790,000 after purchasing an additional 164,731 shares during the last quarter. National Pension Service grew its stake in shares of Simon Property Group by 7.4% during the second quarter. National Pension Service now owns 1,046,556 shares of the real estate investment trust’s stock worth $168,244,000 after purchasing an additional 71,859 shares in the last quarter. Finally, Cascade Financial Partners LLC grew its stake in shares of Simon Property Group by 4.4% during the second quarter. Cascade Financial Partners LLC now owns 4,393 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Activity

In other Simon Property Group news, Director Larry C. Glasscock acquired 351 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, with a total value of $65,268.45. Following the purchase, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the purchase, the director owned 19,229 shares in the company, valued at $3,575,632.55. This represents a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,121 shares of company stock worth $394,400 in the last three months. Company insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Evercore ISI upped their target price on Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. LADENBURG THALM/SH SH initiated coverage on Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price target on the stock. Scotiabank increased their price objective on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $188.85.

Simon Property Group Stock Performance

NYSE:SPG opened at $183.90 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm’s fifty day simple moving average is $180.69 and its 200-day simple moving average is $170.22. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The stock has a market cap of $60.04 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced 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. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is currently 128.09%.

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.