Simon Property Group, Inc. $SPG Stock Holdings Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Simon Property Group, Inc. by 354.5%, now holding 530,630 shares valued at approximately $88.1 million.
• Simon Property Group recently reported earnings of $3.05 per share, slightly exceeding analysts' expectations, and announced a quarterly dividend increase from $2.10 to $2.15 per share, resulting in an annualized dividend of $8.60.
• As of now, 93.01% of Simon Property Group's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Acadian Asset Management LLC raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 354.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 530,630 shares of the real estate investment trust's stock after purchasing an additional 413,871 shares during the quarter. Acadian Asset Management LLC owned about 0.16% of Simon Property Group worth $88,115,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Simon Property Group by 31.1% in 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 purchasing an additional 789 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Simon Property Group by 193.5% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 509 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at $295,000. Clark Capital Management Group Inc. acquired a new position in shares of Simon Property Group in the 1st quarter valued at $39,370,000. Finally, Nixon Capital LLC boosted its holdings in shares of Simon Property Group by 5.1% in the 1st quarter. Nixon Capital LLC now owns 62,568 shares of the real estate investment trust's stock valued at $10,391,000 after purchasing an additional 3,032 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPG. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 target price on the stock. Barclays began coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Argus restated a "buy" rating and set a $185.00 target price on shares of Simon Property Group in a report on Friday, September 5th. Finally, Truist Financial lifted their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $184.54.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 522 shares of the company's stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $83,149.38. Following the transaction, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary M. Rodkin bought 246 shares of the company's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $39,185.34. Following the transaction, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,428 shares of company stock worth $387,271. 8.66% of the stock is currently owned by insiders.

Simon Property Group Stock Down 0.7%

Simon Property Group stock traded down $1.23 during midday trading on Friday, hitting $182.68. 1,547,320 shares of the stock were exchanged, compared to its average volume of 1,638,808. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The firm has a market cap of $59.64 billion, a P/E ratio of 28.23, a P/E/G ratio of 11.14 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50 day moving average price of $170.73 and a two-hundred day moving average price of $164.42.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 firm posted $2.90 EPS. The firm's quarterly revenue was up 13.9% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 annualized dividend and a yield of 4.7%. Simon Property Group's payout ratio is presently 132.92%.

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.