Simon Property Group, Inc. $SPG Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,529,175 shares of the real estate investment trust’s stock after purchasing an additional 25,990 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.47% of Simon Property Group worth $286,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Horizon Corp acquired a new stake in Simon Property Group during the 3rd quarter worth about $99,000. MGO One Seven LLC lifted its position in shares of Simon Property Group by 265.3% in the 3rd quarter. MGO One Seven LLC now owns 10,370 shares of the real estate investment trust’s stock valued at $1,946,000 after acquiring an additional 7,531 shares in the last quarter. Tema Etfs LLC acquired a new position in Simon Property Group in the 3rd quarter worth approximately $1,840,000. New York State Teachers Retirement System grew its position in Simon Property Group by 8.2% during the 3rd quarter. New York State Teachers Retirement System now owns 294,798 shares of the real estate investment trust’s stock worth $55,325,000 after purchasing an additional 22,305 shares in the last quarter. Finally, Washington Trust Bank acquired a new stake in Simon Property Group during the 3rd quarter valued at $322,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Evercore ISI raised their target price on Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Scotiabank raised their price objective on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Piper Sandler upped their target price on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Simon Property Group in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $191.54.

Simon Property Group Trading Down 0.2%

Shares of NYSE:SPG opened at $184.60 on Monday. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The stock’s 50-day moving average is $183.78 and its 200-day moving average is $177.30. The company has a market cap of $60.27 billion, a P/E ratio of 26.87, a P/E/G ratio of 8.80 and a beta of 1.37. 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 (NYSE:SPG) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a net margin of 38.18% and a return on equity of 79.30%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

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

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin bought 226 shares of the stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price 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. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel C. Smith bought 347 shares of Simon Property Group stock in a transaction that occurred on 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 in the company, valued at approximately $6,078,480. This trade represents a 1.07% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 2,192 shares of company stock worth $407,712. 8.66% of the stock is owned by company insiders.

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.