AQR Capital Management LLC Increases Stock Position in Simon Property Group, Inc. $SPG

AQR Capital Management LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 45.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,810 shares of the real estate investment trust's stock after buying an additional 66,174 shares during the period. AQR Capital Management LLC owned 0.06% of Simon Property Group worth $34,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC increased its position in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the period. Richardson Financial Services Inc. increased its position in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the last quarter. Continuum Advisory LLC increased its position in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 156 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 95 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Simon Property Group in the first quarter worth approximately $47,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

NYSE SPG traded down $3.14 on Tuesday, reaching $179.41. 1,860,381 shares of the company's stock traded hands, compared to its average volume of 1,583,466. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The stock has a market cap of $58.58 billion, a PE ratio of 27.73, a P/E/G ratio of 11.05 and a beta of 1.50. The stock has a 50-day simple moving average of $169.78 and a 200 day simple moving average of $164.33.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its 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 analysts' expectations of $1.40 billion. During the same quarter last year, the business earned $2.90 earnings per share. The business's 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. As a group, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm 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 $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. Simon Property Group's payout ratio is 132.92%.

Analyst Upgrades and Downgrades

SPG has been the topic of several research analyst reports. Barclays initiated coverage on shares of Simon Property Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective on the stock. Mizuho decreased their price objective 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. Argus restated a "buy" rating and issued a $185.00 price objective on shares of Simon Property Group in a research report on Friday. Stifel Nicolaus cut shares of Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price objective on the stock. in a research report on Tuesday, September 2nd. Finally, Piper Sandler decreased their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $184.92.

Insider Buying and Selling

In other Simon Property Group news, Director Stefan M. Selig purchased 219 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $34,884.51. Following the completion of the purchase, the director directly owned 31,881 shares of the company's stock, valued at $5,078,324.49. The trade was a 0.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Reuben S. Leibowitz purchased 522 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,428 shares of company stock valued at $387,271 over the last three months. Insiders own 8.60% of the company's stock.

About Simon Property Group

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.