14,957 Shares in Simon Property Group, Inc. $SPG Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, HoldingsChannel reports. The fund bought 14,957 shares of the real estate investment trust’s stock, valued at approximately $2,404,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Simon Property Group by 0.6% during 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 boosted its stake in 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 buying an additional 96,126 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust’s stock worth $805,853,000 after buying an additional 141,657 shares in the last quarter. Nuveen LLC bought a new position in Simon Property Group during the first quarter valued at approximately $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 worth $608,086,000 after acquiring an additional 23,873 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel acquired 208 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $38,677.60. Following the transaction, the director owned 19,265 shares in the company, valued at $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin bought 219 shares of the company’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 $40,723.05. Following the completion of the transaction, the director owned 19,229 shares in the company, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 2,121 shares of company stock valued at $394,400 over the last 90 days. Company insiders own 8.66% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $182.66 on Friday. The stock has a market capitalization of $59.63 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 12.73 and a beta of 1.50. The firm’s 50-day moving average price is $180.74 and its two-hundred day moving average price is $170.58. 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 12-month low of $136.34 and a 12-month high of $190.13.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s payout ratio is presently 128.09%.

Wall Street Analyst Weigh In

SPG has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a research note on Monday, August 25th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $179.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Barclays upped 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 Monday, October 6th. Scotiabank lifted their price objective on Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $189.85.

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.