Intech Investment Management LLC Raises Stock Position in Simon Property Group, Inc. $SPG

Key Points

• Intech Investment Management LLC increased its stake in Simon Property Group, Inc. by 8.8%, owning 31,926 shares valued at approximately $5.3 million.
• Simon Property Group recently declared a quarterly dividend of $2.15 per share, up from the previous $2.10, representing an annualized dividend yield of 4.7%.
• Several analysts have been adjusting their price targets for SPG, with Scotiabank raising its target from $163 to $173, while the stock maintains a consensus target price of $184.54.

Intech Investment Management LLC boosted its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,926 shares of the real estate investment trust's stock after acquiring an additional 2,572 shares during the period. Intech Investment Management LLC's holdings in Simon Property Group were worth $5,302,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC grew its stake in Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 68 shares in the last quarter. Sumitomo Life Insurance Co. grew its stake in Simon Property Group by 1.6% during the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after acquiring an additional 70 shares in the last quarter. Aspiriant LLC grew its stake in Simon Property Group by 1.3% during the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after acquiring an additional 74 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in Simon Property Group by 2.2% during the first quarter. HighPoint Advisor Group LLC now owns 3,471 shares of the real estate investment trust's stock valued at $544,000 after acquiring an additional 75 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in Simon Property Group by 5.9% in the 1st quarter. Moody National Bank Trust Division now owns 1,394 shares of the real estate investment trust's stock worth $232,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on SPG. Scotiabank boosted their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Mizuho cut their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price target on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Finally, Barclays began coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $184.54.

Simon Property Group Trading Up 2.7%

NYSE:SPG opened at $184.01 on Friday. The company has a fifty day moving average of $170.41 and a 200 day moving average of $164.43. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The firm has a market capitalization of $60.08 billion, a P/E ratio of 28.44, a P/E/G ratio of 10.85 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $2.90 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $2.15 per share. The ex-dividend date is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.7%. This is an increase from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio (DPR) is currently 132.92%.

Insider Buying and Selling at Simon Property Group

In related news, Director Larry C. Glasscock acquired 396 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $63,078.84. Following the transaction, the director owned 43,185 shares in the company, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares in the company, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by corporate 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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