Simon Property Group, Inc. $SPG Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,123 shares of the real estate investment trust’s stock after purchasing an additional 1,321 shares during the period. QRG Capital Management Inc.’s holdings in Simon Property Group were worth $34,101,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SPG. Vanguard Group Inc. grew its holdings 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 worth $7,588,195,000 after buying an additional 267,503 shares in the last quarter. Northern Trust Corp boosted its position in Simon Property Group by 1.8% during the 1st quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust’s stock worth $923,236,000 after acquiring an additional 96,126 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 purchasing an additional 141,657 shares in the last quarter. Nuveen LLC bought a new position in shares of Simon Property Group in the first quarter worth $724,937,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.3%

NYSE SPG opened at $185.58 on Friday. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market capitalization of $60.59 billion, a P/E ratio of 28.68, a PEG ratio of 11.20 and a beta of 1.50. The company’s 50 day simple moving average is $176.78 and its 200 day simple moving average is $165.50. 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 earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s payout ratio is presently 132.92%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPG shares. Morgan Stanley increased their target price 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 Thursday, September 11th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company. Piper Sandler raised their price objective on shares of Simon Property Group from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Finally, Scotiabank increased their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $186.46.

Insider Buying and Selling at Simon Property Group

In other news, Director Daniel C. Smith acquired 335 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the purchase, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Glyn Aeppel bought 208 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $38,677.60. Following the completion of the acquisition, the director owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,163 shares of company stock valued at $401,605 over the last 90 days. 8.66% of the stock is owned by 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.