Sumitomo Mitsui DS Asset Management Company Ltd Purchases 9,267 Shares of Simon Property Group, Inc. $SPG

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.4% during the 3rd quarter, Holdings Channel reports. The firm owned 119,798 shares of the real estate investment trust’s stock after purchasing an additional 9,267 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Simon Property Group were worth $22,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Vanguard Group Inc. boosted its stake in shares of Simon Property Group by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after buying an additional 149,314 shares during the last quarter. State Street Corp lifted its holdings in Simon Property Group by 1.1% during the second quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after acquiring an additional 228,819 shares during the period. Geode Capital Management LLC lifted its holdings in Simon Property Group by 1.3% during the second quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after acquiring an additional 127,636 shares during the period. Norges Bank bought a new position in Simon Property Group in the 2nd quarter valued at $1,051,262,000. Finally, JPMorgan Chase & Co. grew its stake in Simon Property Group by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock valued at $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Transactions at Simon Property Group

In other news, Director Daniel C. Smith purchased 347 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The stock was purchased at an average cost of $186.00 per share, for a total transaction of $64,542.00. Following the transaction, the director directly owned 32,680 shares of the company’s stock, valued at approximately $6,078,480. This trade represents a 1.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Larry C. Glasscock acquired 363 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, for a total transaction of $67,518.00. Following the transaction, the director directly owned 43,899 shares of the company’s stock, valued at $8,165,214. This represents a 0.83% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 2,192 shares of company stock worth $407,712. 8.66% of the stock is owned by corporate insiders.

Simon Property Group Trading Down 0.2%

NYSE:SPG opened at $184.60 on Friday. The company has a market cap of $60.27 billion, a P/E ratio of 26.87, a P/E/G ratio of 8.82 and a beta of 1.37. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day moving average price is $183.78 and its two-hundred day moving average price is $177.04.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Simon Property Group from $173.00 to $186.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Truist Financial raised their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Evercore ISI lifted their price target on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Finally, Piper Sandler upped their price objective on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $191.54.

Simon Property Group Company Profile

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.