Aberdeen Group plc Acquires 32,235 Shares of Simon Property Group, Inc. $SPG

Key Points

• Aberdeen Group plc has increased its stake in Simon Property Group by 5.2%, acquiring an additional 32,235 shares to hold approximately 651,785 shares valued at $104.8 million.
• Several analysts have raised their target price for Simon Property Group, with Barclays and Morgan Stanley both setting new targets at $180, while the consensus target price is currently at $187.23.
• Simon Property Group recently announced a quarterly dividend increase to $2.15 per share, reflecting a significant annualized dividend yield of 4.9%.

Aberdeen Group plc grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,785 shares of the real estate investment trust's stock after acquiring an additional 32,235 shares during the period. Aberdeen Group plc owned about 0.20% of Simon Property Group worth $104,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SPG. Brighton Jones LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $295,000. Farther Finance Advisors LLC grew its position in shares of Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 789 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at $210,000. Simon Quick Advisors LLC grew its position in shares of Simon Property Group by 24.1% during the 1st quarter. Simon Quick Advisors LLC now owns 2,592 shares of the real estate investment trust's stock valued at $431,000 after acquiring an additional 504 shares during the period. Finally, Everhart Financial Group Inc. boosted its holdings in Simon Property Group by 9.0% in the 1st quarter. Everhart Financial Group Inc. now owns 3,878 shares of the real estate investment trust's stock worth $644,000 after buying an additional 320 shares during the period. Institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a report on Monday. Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Evercore ISI reaffirmed an "in-line" rating and issued a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a report on Monday, September 15th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Simon Property Group in a report on Saturday, September 27th. Finally, Morgan Stanley upped their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $187.23.

Insider Activity

In other news, Director Gary M. Rodkin purchased 219 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, for a total transaction of $40,723.05. Following the acquisition, the director owned 19,229 shares of the company's stock, valued at approximately $3,575,632.55. This trade represents a 1.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel C. Smith purchased 335 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the completion of the acquisition, the director directly owned 32,333 shares in the company, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,163 shares of company stock worth $401,605. 8.66% of the stock is owned by insiders.

Simon Property Group Stock Down 1.9%

Shares of SPG stock opened at $175.39 on Friday. The stock has a market cap of $57.26 billion, a P/E ratio of 27.11, a PEG ratio of 10.83 and a beta of 1.50. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company's fifty day simple moving average is $178.12 and its two-hundred day simple moving average is $165.96.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.01. The firm had revenue of $1.50 billion for 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 business's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $2.15 per share. The ex-dividend date was Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Simon Property Group 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.

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