Hudson Edge Investment Partners Inc. Acquires 3,432 Shares of Simon Property Group, Inc. $SPG

Key Points

• Hudson Edge Investment Partners Inc. increased its holdings in Simon Property Group by 9.4%, owning a total of 39,838 shares valued at approximately $6.4 million after acquiring an additional 3,432 shares.
• Simon Property Group recently boosted its quarterly dividend to $2.15 from the previous $2.10, yielding 4.6% annually, with a payout ratio of 132.92%.
• Wall Street analysts have mixed ratings on Simon Property Group, with a consensus price target of $186.46, reflecting the company's strong earnings performance and positive revenue growth.

Hudson Edge Investment Partners Inc. lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,838 shares of the real estate investment trust's stock after purchasing an additional 3,432 shares during the period. Hudson Edge Investment Partners Inc.'s holdings in Simon Property Group were worth $6,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Nuveen LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at about $724,937,000. Principal Financial Group Inc. boosted its position in shares of Simon Property Group by 133.0% during the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock valued at $532,529,000 after purchasing an additional 1,830,264 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Simon Property Group during the 1st quarter valued at about $197,377,000. Goldman Sachs Group Inc. boosted its position in shares of Simon Property Group by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,976,076 shares of the real estate investment trust's stock valued at $494,267,000 after purchasing an additional 604,016 shares in the last quarter. Finally, Resolution Capital Ltd boosted its position in shares of Simon Property Group by 45.8% during the 1st quarter. Resolution Capital Ltd now owns 1,799,574 shares of the real estate investment trust's stock valued at $298,873,000 after purchasing an additional 565,084 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Insider Buying and Selling

In related news, Director Glyn Aeppel bought 208 shares of the stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $185.95 per share, with a total value of $38,677.60. Following the purchase, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. The trade was a 1.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Larry C. Glasscock purchased 351 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $65,268.45. Following the acquisition, the director owned 43,536 shares in the company, valued at $8,095,519.20. This trade represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,163 shares of company stock worth $401,605 in the last 90 days. 8.66% of the stock is currently owned by company insiders.

Simon Property Group Stock Performance

Shares of SPG opened at $185.05 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The stock has a 50 day moving average of $176.41 and a 200 day moving average of $165.35. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 11.25 and a beta of 1.50.

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

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $2.15 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.6%. Simon Property Group's dividend payout ratio is presently 132.92%.

Wall Street Analysts Forecast Growth

SPG has been the topic of several recent research reports. Scotiabank increased their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a report on Tuesday, September 2nd. Argus reiterated a "buy" rating and issued a $185.00 price target on shares of Simon Property Group in a report on Friday, September 5th. Finally, Mizuho cut their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $186.46.

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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