Resolution Capital Ltd Grows Holdings in Simon Property Group, Inc. $SPG

Key Points

• Resolution Capital Ltd increased its stake in Simon Property Group by 45.8%, owning approx. 1.8 million shares worth $298.9 million as of its latest SEC filing.
• Simon Property Group has announced a quarterly dividend increase to $2.15 per share, reflecting a 4.7% yield and a payout ratio of 129.83%.
• Analysts have set a consensus price target of $184.92 for Simon Property Group, with reports indicating a mix of ratings, including multiple "buy" and "hold" advisories.

Resolution Capital Ltd grew its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 45.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,799,574 shares of the real estate investment trust's stock after buying an additional 565,084 shares during the quarter. Simon Property Group accounts for approximately 5.8% of Resolution Capital Ltd's holdings, making the stock its 7th biggest holding. Resolution Capital Ltd owned 0.55% of Simon Property Group worth $298,873,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. PharVision Advisers LLC acquired a new position in shares of Simon Property Group in the 1st quarter valued at $264,000. Nissay Asset Management Corp Japan ADV raised its stake in shares of Simon Property Group by 1.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 84,567 shares of the real estate investment trust's stock valued at $14,045,000 after buying an additional 1,097 shares in the last quarter. Nixon Capital LLC grew its holdings in shares of Simon Property Group by 5.1% in the 1st quarter. Nixon Capital LLC now owns 62,568 shares of the real estate investment trust's stock worth $10,391,000 after purchasing an additional 3,032 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Simon Property Group by 60.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,308 shares of the real estate investment trust's stock worth $9,840,000 after purchasing an additional 22,283 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Simon Property Group in the 1st quarter worth about $539,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE:SPG traded down $3.14 during mid-day trading on Tuesday, reaching $179.41. 1,860,381 shares of the company were exchanged, compared to its average volume of 1,583,466. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The company has a fifty day moving average of $169.78 and a 200 day moving average of $164.33. 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 stock has a market cap of $58.58 billion, a PE ratio of 27.73, a PEG ratio of 11.05 and a beta of 1.50.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, topping 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. The company'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. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $2.15 per share. This represents a $8.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, September 9th. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. Simon Property Group's dividend payout ratio is currently 132.92%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Larry C. Glasscock bought 396 shares of the business's 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 $63,078.84. Following the transaction, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the transaction, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,428 shares of company stock worth $387,271. Insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPG. Piper Sandler lowered their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Scotiabank upped their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Finally, Truist Financial upped their target price on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a "hold" rating in a report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $184.92.

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.