Simon Property Group, Inc. $SPG Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 30.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,300 shares of the real estate investment trust’s stock after selling 30,600 shares during the period. Forsta AP Fonden’s holdings in Simon Property Group were worth $11,462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nuveen LLC acquired a new position in Simon Property Group during the 1st quarter worth $724,937,000. Goldman Sachs Group Inc. raised its stake in shares of Simon Property Group by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust’s stock valued at $494,267,000 after purchasing an additional 604,016 shares in the last quarter. Resolution Capital Ltd lifted its holdings in Simon Property Group by 45.8% in the first quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust’s stock worth $298,873,000 after purchasing an additional 565,084 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Simon Property Group in the 2nd quarter valued at about $68,013,000. Finally, Acadian Asset Management LLC grew its position in Simon Property Group by 354.5% in the 1st quarter. Acadian Asset Management LLC now owns 530,630 shares of the real estate investment trust’s stock valued at $88,115,000 after buying an additional 413,871 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPG. Piper Sandler boosted their target price on Simon Property Group from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley lifted their price target on 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. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. JPMorgan Chase & Co. upped their price objective on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $189.85.

Simon Property Group Stock Performance

Shares of NYSE SPG opened at $183.55 on Friday. The stock’s fifty day simple moving average is $180.73 and its 200 day simple moving average is $170.32. The stock has a market capitalization of $59.93 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 12.73 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. 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 announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business posted $3.05 earnings per share. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Gary M. Rodkin acquired 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $40,723.05. Following the purchase, the director owned 19,229 shares of the company’s stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel C. Smith acquired 335 shares of the stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the transaction, the director owned 32,333 shares in the company, valued at approximately $6,012,321.35. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,121 shares of company stock valued at $394,400 over the last 90 days. 8.60% of the stock is owned by corporate insiders.

Simon Property Group 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.