Simon Property Group, Inc. $SPG Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC decreased its position in Simon Property Group, Inc. (NYSE:SPG) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,568,498 shares of the real estate investment trust’s stock after selling 258,517 shares during the period. Simon Property Group makes up approximately 3.8% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 3rd biggest position. Cbre Investment Management Listed Real Assets LLC owned 0.48% of Simon Property Group worth $252,152,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 acquiring an additional 267,503 shares during the period. Northern Trust Corp grew its stake in shares of Simon Property Group by 1.8% in the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Simon Property Group by 3.0% during the first 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 period. Nuveen LLC acquired a new position in shares of Simon Property Group during the first quarter valued at $724,937,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Simon Property Group by 0.7% during the first 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 in the last quarter. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPG shares. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Argus reiterated a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a research note on Friday, September 5th. LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Morgan Stanley upped their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $187.69.

Simon Property Group Stock Down 0.3%

NYSE:SPG opened at $180.81 on Friday. The business’s fifty day moving average price is $180.39 and its 200 day moving average price is $169.25. The firm has a market capitalization of $59.03 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 12.73 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 1-year low of $136.34 and a 1-year high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.13. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.9%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio is presently 128.09%.

Insider Buying and Selling at Simon Property Group

In other news, Director Stefan M. Selig purchased 195 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $36,260.25. Following the purchase, the director directly owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This trade represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction dated 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 completion of the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. The trade was a 0.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,163 shares of company stock valued at $401,605 in the last quarter. Corporate insiders own 8.66% of the company’s stock.

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.