Jacobs Levy Equity Management Inc. Invests $539,000 in Simon Property Group, Inc. $SPG

Key Points

• Jacobs Levy Equity Management Inc. acquired 3,248 shares of Simon Property Group, Inc. for approximately $539,000, indicating institutional interest in the real estate investment trust.
• Simon Property Group's quarterly dividend has increased from $2.10 to $2.15, reflecting a positive trend in the company's financial health.
• Analysts have set a range of price targets for Simon Property Group, with an average target price of $184.54 and a mix of Buy and Hold ratings from various firms.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 3,248 shares of the real estate investment trust's stock, valued at approximately $539,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC boosted its position in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. grew its holdings in 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 worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC grew its holdings in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in Simon Property Group during the 1st quarter worth approximately $47,000. 93.01% of the stock is owned by institutional investors.

Insider Activity

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. This represents a 1.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry C. Glasscock acquired 396 shares of the stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. The trade was a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,428 shares of company stock valued at $387,271. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Up 0.8%

Shares of Simon Property Group stock traded up $1.50 during trading on Monday, reaching $183.97. 1,570,777 shares of the company traded hands, compared to its average volume of 1,637,094. 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, Inc. has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a 50 day moving average price of $171.11 and a 200-day moving average price of $164.14. The firm has a market capitalization of $60.07 billion, a PE ratio of 28.43, a P/E/G ratio of 11.05 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.01. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $2.90 EPS. Simon Property Group's quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. The ex-dividend date is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.7%. Simon Property Group's dividend payout ratio is currently 132.92%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPG shares. JPMorgan Chase & Co. boosted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a research report on Tuesday, September 2nd. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target on the stock. Barclays initiated coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $185.69.

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.