Adams Diversified Equity Fund Inc. Invests $6.70 Million in Simon Property Group, Inc. $SPG

Key Points

• Adams Diversified Equity Fund initiated a new position in Simon Property Group in the first quarter, buying 35,900 shares valued at about $6.7 million.
• Simon Property Group reported stronger-than-expected quarterly results, with EPS of $1.48 beating estimates and revenue of $1.76 billion, up 19.3% year over year.
• The REIT also raised its quarterly dividend to $2.25 per share from $2.20, implying an annualized payout of $9.00 and a 4.0% yield.

Adams Diversified Equity Fund Inc. acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,900 shares of the real estate investment trust's stock, valued at approximately $6,696,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Simon Property Group in the fourth quarter worth $295,000. Marshall Wace LLP boosted its stake in Simon Property Group by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 19,787 shares of the real estate investment trust's stock worth $3,181,000 after purchasing an additional 15,033 shares during the period. Jump Financial LLC grew its holdings in Simon Property Group by 80.1% during the 2nd quarter. Jump Financial LLC now owns 16,881 shares of the real estate investment trust's stock valued at $2,714,000 after buying an additional 7,506 shares in the last quarter. Cerity Partners LLC grew its holdings in Simon Property Group by 1.7% during the 2nd quarter. Cerity Partners LLC now owns 35,740 shares of the real estate investment trust's stock valued at $5,745,000 after buying an additional 598 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Simon Property Group by 13.4% during the second quarter. NewEdge Advisors LLC now owns 28,444 shares of the real estate investment trust's stock valued at $4,573,000 after buying an additional 3,372 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

Shares of SPG opened at $227.13 on Friday. Simon Property Group, Inc. has a 12-month low of $158.00 and a 12-month high of $228.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a market cap of $73.66 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 4.10 and a beta of 1.31. The stock has a 50-day moving average price of $207.23 and a 200-day moving average price of $196.03.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the business earned $2.95 earnings per share. Simon Property Group's revenue for the quarter was up 19.3% compared to the same quarter last year. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, equities analysts forecast that Simon Property Group, Inc. will post 13.21 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, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $2.25 per share. The ex-dividend date is Tuesday, June 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. Simon Property Group's dividend payout ratio (DPR) is 62.54%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SPG shares. Morgan Stanley increased their price target on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 9th. Weiss Ratings raised shares of Simon Property Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 15th. JPMorgan Chase & Co. increased their target price on shares of Simon Property Group from $210.00 to $217.00 and gave the stock a "neutral" rating in a research note on Monday, June 1st. Truist Financial increased their target price on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research note on Tuesday, June 23rd. Finally, Scotiabank raised their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.71.

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.

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