412,075 Shares in Simon Property Group, Inc. $SPG Acquired by Aew Capital Management Inc.

Key Points

• Aew Capital Management acquired 412,075 Simon Property Group shares in the third quarter, valued at about $82.7 million. The REIT now represents 5.4% of the fund’s portfolio and is its eighth-largest holding.
• Simon reported quarterly earnings of $3.37 per share, beating the $1.69 consensus estimate, while revenue rose 13.3% year over year to $1.81 billion. The company also increased its quarterly dividend to $2.30 per share.
• Analysts collectively rate SPG a Hold, with an average price target of $230.10; 9 analysts have Buy ratings and 13 have Hold ratings.

Aew Capital Management Inc. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 412,075 shares of the real estate investment trust's stock, valued at approximately $82,728,000. Simon Property Group accounts for 5.4% of Aew Capital Management Inc.'s portfolio, making the stock its 8th largest holding. Aew Capital Management Inc. owned 0.13% of Simon Property Group as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Nykredit A S purchased a new stake in shares of Simon Property Group in the 2nd quarter worth about $25,186,000. NEOS Investment Management LLC increased its stake in shares of Simon Property Group by 15.2% in the second quarter. NEOS Investment Management LLC now owns 118,677 shares of the real estate investment trust's stock worth $26,542,000 after purchasing an additional 15,638 shares in the last quarter. Corient Private Wealth LP grew its position in shares of Simon Property Group by 64.3% during the second quarter. Corient Private Wealth LP now owns 87,140 shares of the real estate investment trust's stock worth $19,489,000 after purchasing an additional 34,112 shares in the last quarter. Saudi Central Bank lifted its holdings in Simon Property Group by 88.7% in the 2nd quarter. Saudi Central Bank now owns 22,739 shares of the real estate investment trust's stock worth $5,086,000 after purchasing an additional 10,689 shares in the last quarter. Finally, Mystic Asset Management Inc. purchased a new position in shares of Simon Property Group during the second quarter valued at about $2,234,000. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SPG shares. Weiss Ratings lowered shares of Simon Property Group from a "buy (a-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Simon Property Group from $231.00 to $223.00 and set a "neutral" rating for the company in a research note on Thursday, September 10th. Citigroup upped their price target on shares of Simon Property Group from $205.00 to $230.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. Evercore raised their price target on shares of Simon Property Group from $213.00 to $216.00 in a research note on Wednesday, October 28th. Finally, Truist Financial started coverage on shares of Simon Property Group in a research note on Friday, October 2nd. They issued a "hold" rating and a $215.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $230.10.

Simon Property Group Price Performance

Shares of SPG opened at $234.81 on Thursday. The firm has a 50-day simple moving average of $209.26 and a two-hundred day simple moving average of $207.50. The stock has a market cap of $75.97 billion, a PE ratio of 17.60, a P/E/G ratio of 3.58 and a beta of 1.27. Simon Property Group, Inc. has a 1-year low of $177.88 and a 1-year high of $238.50. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.74 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $1.69 by $1.68. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. Simon Property Group's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.22 earnings per share. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. As a group, analysts forecast that Simon Property Group, Inc. will post 13.35 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Simon Property Group's previous quarterly dividend of $2.25. Simon Property Group's dividend payout ratio is currently 64.94%.

Insiders Place Their Bets

In other Simon Property Group news, Director Stefan M. Selig purchased 208 shares of the firm's stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $202.78 per share, with a total value of $42,178.24. Following the acquisition, the director owned 34,020 shares of the company's stock, valued at approximately $6,898,575.60. This represents a 0.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel C. Smith acquired 350 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $202.78 per share, for a total transaction of $70,973.00. Following the completion of the purchase, the director owned 34,830 shares of the company's stock, valued at approximately $7,062,827.40. This represents a 1.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 1,668 shares of company stock valued at $338,237. 8.73% of the stock is currently owned by corporate insiders.

Simon Property Group Profile

Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company's properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.

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