Highland Capital Management LLC Makes New $1.20 Million Investment in Simon Property Group, Inc. $SPG

Highland Capital Management LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,438 shares of the real estate investment trust’s stock, valued at approximately $1,196,000.

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC grew its stake in Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. WPG Advisers LLC acquired a new position in Simon Property Group in the first quarter worth approximately $47,000. Finally, Grove Bank & Trust increased its holdings in Simon Property Group by 231.3% in the first quarter. Grove Bank & Trust now owns 381 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 266 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPG. Piper Sandler boosted their target price on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Argus reiterated a “buy” rating and issued a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Evercore ISI reissued an “in-line” rating and set a $187.00 target price (up from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th. Morgan Stanley boosted their price target 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. Finally, Mizuho lowered their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $186.46.

Simon Property Group Stock Up 0.3%

SPG stock opened at $185.58 on Monday. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 11.22 and a beta of 1.50. The company has a 50-day moving average of $176.78 and a two-hundred day moving average of $165.51. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.13. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business posted $2.90 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $2.15 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.6%. Simon Property Group’s payout ratio is currently 132.92%.

Insider Buying and Selling

In other news, Director Daniel C. Smith bought 335 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the transaction, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry C. Glasscock purchased 351 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $185.95 per share, with a total value of $65,268.45. Following the acquisition, the director owned 43,536 shares in the company, valued at approximately $8,095,519.20. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,163 shares of company stock worth $401,605. 8.60% of the stock is currently owned by corporate insiders.

About Simon Property Group

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.