Aew Capital Management L P Has $46.41 Million Position in Simon Property Group, Inc. $SPG

Key Points

• Aew Capital Management L P increased its stake in Simon Property Group by 20.6%, now owning approximately 2.3% of the company, valued at $46.41 million.
• Simon Property Group reported $3.05 earnings per share, exceeding analysts' expectations and showing a 13.9% year-over-year revenue increase to $1.50 billion for the recent quarter.
• The company recently raised its quarterly dividend to $2.15, representing a 4.9% dividend yield and an increase from the previous dividend of $2.10.

Aew Capital Management L P grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 20.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,435 shares of the real estate investment trust's stock after purchasing an additional 47,730 shares during the period. Simon Property Group comprises approximately 2.3% of Aew Capital Management L P's investment portfolio, making the stock its 16th largest position. Aew Capital Management L P owned 0.09% of Simon Property Group worth $46,409,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in 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 worth $553,000 after buying an additional 789 shares during the period. Golden State Wealth Management LLC boosted its position in Simon Property Group by 193.5% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock worth $128,000 after buying an additional 509 shares during the period. Brighton Jones LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $295,000. J.W. Cole Advisors Inc. acquired a new stake in Simon Property Group during the 1st quarter worth approximately $895,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Simon Property Group by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock worth $9,415,000 after buying an additional 4,589 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday. Barclays initiated coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 target price on the stock. Mizuho cut their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They set a "buy" rating and a $225.00 price target for the company. Finally, Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $183.00.

Simon Property Group Stock Performance

NYSE:SPG opened at $176.4210 on Friday. The company has a fifty day moving average of $164.80 and a 200-day moving average of $164.77. The firm has a market capitalization of $57.60 billion, a P/E ratio of 27.27, a P/E/G ratio of 10.46 and a beta of 1.48. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is presently 129.83%.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock purchased 396 shares of the firm's stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the purchase, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. This trade represents a 0.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Reuben S. Leibowitz purchased 522 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This represents a 0.91% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,428 shares of company stock worth $387,271 over the last ninety days. 8.66% of the stock is owned by company insiders.

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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