Meeder Asset Management Inc. Lowers Holdings in Simon Property Group, Inc. $SPG

Key Points

• Meeder Asset Management cut its stake in Simon Property Group by 38.5% in Q1, selling 49,179 shares and leaving it with 78,469 shares worth about $14.6 million.
• Simon Property Group reported better-than-expected quarterly results, with EPS of $1.48 beating estimates and revenue rising 19.3% year over year to $1.76 billion.
• The REIT raised its quarterly dividend to $2.25 per share, or $9.00 annualized, for a yield of about 3.9%, while analysts currently rate the stock a consensus Hold.

Meeder Asset Management Inc. reduced its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,469 shares of the real estate investment trust's stock after selling 49,179 shares during the period. Simon Property Group accounts for about 0.8% of Meeder Asset Management Inc.'s portfolio, making the stock its 27th largest holding. Meeder Asset Management Inc.'s holdings in Simon Property Group were worth $14,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the third quarter worth approximately $26,000. Wilkerson Advisory Group LLC acquired a new position in Simon Property Group in the 4th quarter valued at $29,000. SHP Wealth Management purchased a new position in Simon Property Group in the 4th quarter valued at $34,000. Tompkins Financial Corp purchased a new position in Simon Property Group in the 4th quarter valued at $42,000. Finally, MV Capital Management Inc. acquired a new stake in Simon Property Group during the 4th quarter worth $46,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $228.47 on Monday. The firm has a market cap of $74.09 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.95 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. Simon Property Group, Inc. has a 52 week low of $159.70 and a 52 week high of $231.53. The business's fifty day simple moving average is $213.40 and its 200-day simple moving average is $200.24.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the company earned $2.95 EPS. The company's quarterly revenue was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 13.21 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a $2.25 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $9.00 annualized dividend and a dividend yield of 3.9%. This is an increase from Simon Property Group's previous quarterly dividend of $2.20. Simon Property Group's dividend payout ratio (DPR) is currently 62.54%.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research reports. Barclays upped their target price on shares of Simon Property Group from $212.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, June 25th. Truist Financial boosted their price target on shares of Simon Property Group from $196.00 to $215.00 and gave the stock a "hold" rating in a research report on Tuesday, June 23rd. UBS Group upped their price objective on shares of Simon Property Group from $199.00 to $222.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Citigroup increased their price objective on shares of Simon Property Group from $189.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Finally, Morgan Stanley raised their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $212.21.

Insider Transactions at Simon Property Group

In related news, Director Daniel C. Smith acquired 372 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $223.31 per share, with a total value of $83,071.32. Following the transaction, the director owned 34,480 shares of the company's stock, valued at approximately $7,699,728.80. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Larry C. Glasscock bought 397 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the transaction, the director owned 45,902 shares of the company's stock, valued at $10,253,588.76. This trade represents a 0.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,387 shares of company stock worth $533,056. 8.73% of the stock is owned by company insiders.

Simon Property Group 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.

Want to see what other hedge funds are holding SPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simon Property Group, Inc. (NYSE:SPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.