OMERS ADMINISTRATION Corp Grows Holdings in Simon Property Group, Inc. $SPG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Simon Property Group by 9.4%, owning a total of 24,288 shares valued at approximately $4.034 million.
• Simon Property Group announced a quarterly dividend increase to $2.15 per share, representing an annualized yield of 4.8%.
• Following recent earnings, analysts have set a consensus target price for Simon Property Group at $184.91 with multiple upgrades from various brokerages.

OMERS ADMINISTRATION Corp lifted its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 9.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,288 shares of the real estate investment trust's stock after purchasing an additional 2,086 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Simon Property Group were worth $4,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC increased its position in Simon Property Group by 108.0% during the 1st 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 in the last quarter. Richardson Financial Services Inc. grew its stake in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 95 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

Shares of SPG stock traded up $1.59 during trading hours on Monday, hitting $180.95. The company's stock had a trading volume of 1,716,817 shares, compared to its average volume of 1,549,380. The stock has a market cap of $59.08 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 10.94 and a beta of 1.50. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.13. The company has a 50 day moving average of $166.93 and a 200 day moving average of $164.41. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

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. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal 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 issued 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 is Tuesday, September 9th. This represents a $8.60 annualized dividend and a dividend yield of 4.8%. Simon Property Group's payout ratio is presently 129.83%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPG. Barclays assumed 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. JPMorgan Chase & Co. lifted their price objective 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. Truist Financial boosted their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the company a "hold" rating in a report on Monday, August 25th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a research note on Friday, July 18th. They issued a "buy" rating and a $225.00 target price for the company. Finally, Scotiabank lifted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $184.91.

Insider Transactions at Simon Property Group

In related news, Director Larry C. Glasscock purchased 396 shares of the firm's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares of the company's stock, valued at $6,878,938.65. The trade was a 0.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glyn Aeppel acquired 234 shares of the stock in a transaction on Monday, June 30th. The stock was bought at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the transaction, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,428 shares of company stock valued at $387,271. 8.60% of the stock is owned by insiders.

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.